The 2019 Kimberly Process (KP) Intersessional, with India as its Chair, will take place in Mumbai starting next week Monday. Ahead of the meeting, Stéphane Fischler, President of the World Diamond Council (WDC), urged mining and manufacturing countries in particular to heed the concerns of those in the diamond-consuming countries and to address issues regarding the integrity of the diamond value chain. Those in the industry who are more directly involved with consumers appreciate the urgency of KP reform, as time is running out.
CEO of the Zimbabwe Consolidated Diamond Company (ZCDC), Dr. Moris Mpofu, last week described plans for reversing the resource curse in the country's tumultuous diamond industry with the creation of a multinational diamond park in Mutare - Zimbabwe's fourth-largest city situated on its eastern border.
For the last two weeks, representatives of four African diamond-producing countries (Ivory Coast, Sierra Leone, Guinea and Liberia) have been participating in the "KP Technical Assistance Valuation Program" put together by the Diamond Development Initiative (DDI) and Antwerp World Diamond Centre (AWDC). We spoke with organizers and participants about the rough diamond valuation course itself and what it means for the participants and their respective governments.
From De Beers' press release: Speaking at a reception for customers of its Global Sightholder Sales business during the first Sight of 2017, Bruce Cleaver, De Beers Group CEO, today highlighted the importance of all parts of the diamond sector working together, following the unpredictable events of a volatile year in 2016.
Last Friday, September 30, the second of three rough diamond valuation forums initiated by the current Kimberley Process (KP) Chair, Ahmed Bin Sulayem, was held in Antwerp.
Will man-made diamonds increase the midstream bargaining leverage over rough suppliers?
Responsible Jewellery Council (RJC) has announce that the following members have achieved Certification by meeting the highest ethical, human rights, social and environmental standards as established by the RJC:
AMC NV, Eloquence Corporation, Zuri Star BVBA, Hockley Mint Ltd, Laser Service Srl Unipersonale and PAMP S.A. (Chain-of-Custody).
"Despite the crisis in the economy, diamond output in Russia is expected to be maintained, while global diamond production will reach 115-125 million carats a year, but due to demand outstripping supply rough will continue to grow in price, as the world’s pace-setting economies - the United States and China – continue to increase their GDP. Prices in the diamond cutting industry and diamond jewelry retail will increase, but to a lesser degree.
The World Diamond Conference held in Delhi from December 11 to 12, debated the issue of generic marketing of diamonds. The organizers were India's Gem & Jewellery Export Promotion Council and the Ministry of Commerce and Industry, GOI and the World Diamond Mark Foundation.
The Zimbabwe Diamond Conference is taking place in Harare this week, with "Completing Zimbabwe's diamond potential for the future" as a central theme. The conference will focus mainly on value addition and beneficiation as key elements for a sustainable socio-economic transformation of Zimbabwe. Participants will include African mines ministers, diamond mining companies including Alrosa, and world leading diamond manufacturers and traders. President Mugabe will attend the conference as well.
The McKinsey report examines the next 10 years for the industry. The study suggests that, “even under the most pessimistic demand scenario and the most aggressive supply scenario, the fundamentals of the industry will likely be positive, with demand outpacing supply growth.”
The Indian capital will host a conference aimed at tackling some of the most serious challenges facing the diamond industry, the World Diamond Mark Foundation said.