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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

Today

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

WDC System of Warranties enters public review period

06 june 2018
news_06062018_wdc.pngThe World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review. The SoW review and reform process is part of the WDC Strategic Plan and is intended to help industry participants better implement and demonstrate commitment to responsible business conduct when buying or selling rough and polished diamonds, says a press note from WDC.
The WDC also notes that the reforms establish a new level of adherence for members and call on users of SoW statements to ensure their trading activities maintain strict adherence of universally accepted principles on human and labor rights, anticorruption and anti-money laundering in support of the obligatory Kimberley Process Certification Scheme (KPCS) implementation.
While the new reforms are planned to be implemented beginning in 2019, the draft of the SoW guidelines and a paper explaining the Reform of the System of Warranties, which are currently available, ends for public review on October 1, 2018. 
Stephane Fischler, Acting President – WDC, said, “The SoW reforms reflect our commitment to uphold the duty of care owed to diamond communities by helping ensure safe and secure working conditions, fair labor practices and sustainable development. It also serves as our promise to consumers that they can trust the diamonds they purchase to have been sourced responsibly and ethically.”
The WDC SoW, created in 2000 as part of industry self-regulation, extends the Kimberley Process Certification Scheme by providing added assurances against conflict diamonds entering the legitimate supply chain.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished

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