DDE sold the most expensive rough stone on its tender floor

DMCC – the world’s flagship free zone and government of Dubai authority on commodities trade and enterprise – announced that an exceptional 100+ carat rough diamond was successfully sold for USD 5.218 million (USD 44,004 per carat) in a record...

Today

China's diamond import sustains growth momentum in Q3 of 2021

With the rapid recovery of China's retail jewellery market, the diamond imports of the country have maintained a sustained growth momentum in the first three quarters of 2021.

Yesterday

Namdeb eyes extension of land-based operations to 2042

Namdeb Diamond Corporation, a 50/50 joint venture between De Beers and the Namibian government, has approved a new long-term business plan that will extend the current life-of-mine of its land-based operations to 2042.

Yesterday

Angola to convene first international diamond conference

Angola’s mineral resources ministry will convene its first international diamond conference from November 25 to 27 in Saurimo, the capital of the Lunda Sul province.

Yesterday

Seligdar announces operating results for the first nine months of 2021

Gold production by the holding companies for the reporting period amounted to 5,420 kg. This indicator includes placer gold, the production of which was not taken into account in the figures for 9 months of 2020. The production of ore gold amounted to...

Yesterday

Kimberley Process, Cornerstone of the Natural Diamond's Social Commitment

16 october 2020

(idexonline.com) - On August 13, 2020, IDEX Online posted a Memo by its correspondent John Jeffay. In it, he reported on a discussion he had with Jacques Voorhees, a long-time industry entrepreneur, recalling an article that the latter had written in January 2002, entitled "In Search of Conflict Diamonds." There, Mr. Voorhees recounted his experiences in Sierra Leone during the civil war 20 years ago. Speaking to the IDEX reporter, Mr. Voorhees questioned both the effectiveness and purpose of the Kimberley Process Certification Scheme (KPCS). When asked whether conflict diamonds exist, he answered: "If you're talking about the diamonds that were looted by rebels and traded for guns, you could call them blood diamonds. But diamonds get the blame for the atrocities carried out by the rebels. Controlling the movement of diamonds is laughable as a solution. It's like waving chain-link fencing at a virus. It's the wrong tool for the job. What makes me so upset is that it detracts from the real issue, which is what the world needs to do to stop the conflict." As President of the World Diamond Council, which is the body charged with representing the industry in the Kimberley Process, I understand Mr. Voorhees's argument. It's is not the diamonds that were at fault, for they are inert gemstones. It was rather the unscrupulous rebels exploiting them. They were the cause for the violence and suffering that occurred. This also was the position I held 20 years ago, when as a diamond manufacturer and trader I struggled together with my colleagues to help find solutions for a political and humanitarian crisis. But I disagree with Mr. Voorhees's contention that the KPCS can be likened to "waving chain-link fencing at a virus." Our objective in 2000, the year that both the KP and the WDC were established, was to develop a system that would prevent rebel forces from obtaining revenues from the diamond fields they had plundered. It was not simply about removing conflict diamonds from the distribution chain. It was also about ending the indescribable suffering at the hands of rebel forces that was taking place in the artisanal communities that relied on the gemstones for their daily sustenance. It was about creating the conditions in which rough-producing countries suffering from civil conflict could recover, by helping ensure that revenues from diamond sales return through legitimate channels to benefit their mining communities.