Third Forum on Rough Diamond Valuation Planned for KP Plenary

09/11/2016 09:29

As announced in a press release, the UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem will host a one-day ‘KP Chair Special Forum’ on rough diamond valuation on 13 November, coinciding with the KP Plenary Session between 13 and 17 November 2016. The event will discuss key issues facing the industry with participants from 81 countries, as well as industry players from across the supply chain. This is third forum of its kind hosted by the UAE KP Chair. It will be built on the discussions from the previous workshops with the intention to reach consensus around the proposed list of criteria for rough diamond valuation, an issue that has been deemed complex, but vital to address, by governments and industry players alike.

The UAE KP Chair previously hosted two workshops that looked to leverage the expertise and knowledge of industry players from across the diamond pipeline including institutions, experts and miners with a clear vision to establish best practices for rough diamond valuation. Diamond producing countries in Africa are currently responsible for 65% of the world’s diamonds. However, it is widely acknowledged that these nations do not receive a fair share of the value of their diamonds. The UAE KP Chair has focused on bridging this gap and addressing this critical issue which has been the subject of much debate between the various stakeholders. “As the UAE KP Chair, I would like to highlight the importance of the upcoming forum for the diamond industry as a whole. We made important strides in the past meetings with delegates agreeing on a preliminary set of criteria for diamond valuation and there is no doubt in our minds that the 3rd KP Special Forum – the last in the series - will be critical to the success of this evolving discussion," said Sulayem.