Work hard and you will find success

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GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

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Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

WDC to continue to champion strengthening scope of Kimberley Process

22 november 2019
During the 2019 KP Plenary held from 18th to 22nd November 2019 in New Delhi, the government representatives failed to reach a consensus on a strengthened scope for the Kimberley Process (KP). However, the World Diamond Council (WDC) has reiterated its commitment to continuing to advocate for change, says a press release from WDC.
In the statement, WDC President Stephane Fischler said: “While the KPCS continues to fulfil an important function, the failure of the political process to achieve consensus was a missed opportunity to enhance the effectiveness of this foundation stone of integrity in the diamond business. The KPCS has been a critical element in maintaining peace in producing countries through increased traceability of rough diamond trade, and we must redouble our efforts to strengthen its impact. About 95 per cent of the rough diamonds produced by value are mined by a handful of large industrialized mining companies, almost all of which have implemented compliance systems that go beyond the scope of the KPCS. These all require observance of the WDC’s System of Warranties (SoW), which was expanded in 2018."

 Image credit: World Diamond Council

As recognized in the KP core document, the SoW is designed to facilitate full traceability of diamond transactions by government authorities. This is achieved by requiring all B2B sellers of rough diamonds, polished diamonds and jewellery containing diamonds to include a statement on the invoice or memo document that the goods being sold comply with the KPCS. Importantly, the updated SoW, which also was endorsed by this session of the KP, moves significantly beyond the KPCS, by including a commitment by companies to adhere to WDC Guidelines, which expressly reference international conventions relating to human and labour rights, anti-corruption and anti-money laundering (AML).
During the meeting in New Delhi, following a proposal by the US delegation, the KP Plenary agreed to restructure the operational framework system created for the Central African Republic, while maintaining the current strict monitoring of exports.
 “We support the objectives of this change in policy,” said Fischler, “which is to encourage an increase in legal exports from CAR, as well as improve the efficiency of the system. As this process will shift some of the burdens of verifying the provenance of the goods to the importers in the trading centres, we will soon be issuing guidance in this respect for the industry.”
The WDC expressed its support for new KP-related community development projects reported on during the Plenary Meeting. It noted that they are excellent examples of the organization’s capacity to expand beyond its original mandate as mainly a preventative mechanism, to also being a facilitator of reconstruction and renewal in countries that were or still are afflicted by conflict.
 One such project is the EU and German-funded “Mano River Union (MRU),” which supports KPCS implementation in Cote d'Ivoire, Guinea, Liberia, and Sierra Leone, preventing cross-border smuggling as well as capacity building in artisanal mining communities. The same regional approach is currently being considered for countries in Central Africa. Another is USAID’s "Artisanal Mining and Property Rights (AMPR)" project, which addresses development challenges in the ASM sector in the Central African Republic while improving compliance with KPCS requirements.
Fischler added: “These innovative national or regional programs complement a growing number of grass-roots capacity-building being carried out by industry, including WDC member companies and organizations. The KP should not only be judged by what it prevents, but also by what it can facilitate. Peace-making and nation-building are both parts of its legacy, and it must use all avenues at its disposal to achieve these goals.”

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