Diamond Industry Could Face Problems From '$4.5B Discrepancy'

06/10/2015 08:42

The reputation of the global diamond industry may face a threat from illegal money transfers from developing countries and emerging markets to safe-haven locations. GemKonnect reports on industry analyst Chaim Even-Zohar's report on a supposed $4.5 billion discrepancy between the annual 2014 rough diamond production estimate of the Kimberley Process (KP) and the estimate from the 2015 Diamond Insight Report published by De Beers last month. The KP puts global rough diamond production in 2014 at 124 million carats valued at $14.5 billion, while the De Beers report estimates it at 142 million carats valued at $19 billion.