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Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

IIDGR’s proprietary technology gives polished diamonds unique identity

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each...

07 november 2017

In future, only those who offer innovative designs will survive

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing...

30 october 2017

Conditions are still very difficult - Ernie Blom

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa...

23 october 2017

Conflict diamonds: Global Witness calls for due diligence when trading with CAR

14 july 2017
Global Witness said diamond companies should exercise caution when trading with the Central African Republic (CAR) to prevent conflict diamonds from entering the international market.
The non-governmental organization released a report last month, which alleged that dealers were smuggling rough diamonds out of CAR using social media.
However, the country’s mining minister, Leopold Mboli Fatran, refuted Global Witness’ claims of illegal diamond trading in the country.
Rapaport reports that Global Witness had fired back.
“A responsible diamond trade can only be built with the commitment and resources of the entire sector,” it was quoted as saying.
“This includes international companies profiting from the trade in diamonds. These companies have a clear responsibility and wield genuine influence, but their due diligence efforts continue to fall well short of international standards.”
Global Witness also said that the CAR government had expressed “willingness to engage” on the issues raised in their report.
CAR was the world’s tenth-biggest diamond producer by value in 2012, according to Bloomberg citing the US Geological Survey.
The internecine conflict broke out in CAR in 2013 when Muslim Seleka rebels seized power from President Francois Bozize, causing retaliations by "anti-balaka" Christian militias.
Diamonds were used to fund operations of the warring groups, a move that forced the Kimberley Process to ban the export of diamonds from the landlocked country.
However, the diamond watchdog partially lifted the ban last year.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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