Blood Diamond

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Blood Diamond

A diamond used to finance a war or rebellion. Blood diamonds are most common in Africa, where diamonds are plentiful and where there a great deal of conflict has taken place in the late 20th and early 21st centuries. Trade in blood diamonds is illegal. In 2003, the United Nations put in place the Kimberley Process to certify diamonds as legitimate. Blood diamonds are also called conflict diamonds.
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In May 2000, the UNSC subsequently passed Resolution 1295 that served as a catalyst for the diamond-mining countries of southern Africa to devise a method to halt the trade of conflict diamonds and to provide assurance to diamond buyers that their diamonds have not contributed money to armed conflict.
A nine-point plan aimed at keeping conflict diamonds out of the
In the case of conflict diamonds, the UN General Assembly has recognised that conflict diamonds are a crucial factor in prolonging brutal wars in parts of Africa, and underscored that legitimate diamonds contribute to prosperity and development elsewhere on the continent.
The illegal trade in conflict diamonds hit international headlines a few years ago after a hard-hitting Leonardo DiCaprio film set during the conflict in Sierra Leone.
Sierra Leone is one of the poorest countries in the world, known in the last two decades for its civil war, political instability, economic devastation, and conflict diamonds.
Profits from the trade in conflict diamonds, worth billions of dollars, were used by warlords and rebels to buy arms during the devastating wars in Angola, the Democratic Republic of Congo (DRC) and Sierra Leone.
But as well as the storm of controversy over gems from Zimbabwe, details have emerged of how conflict diamonds are being traded from the Ivory Coast.
Summary: Harare, June 08, 2010, SPA -- Zimbabwe has met the minimum requirements to legally trade diamonds from its controversial Chiadzwa diamond fields, according to the monitor appointed by the Kimberley Process (KP), dpa quoted the world watchdog for conflict diamonds as.
The Kimberley Process was launched in 2003 to curb the flow of conflict diamonds into the mainstream market following wars in countries like Liberia and Sierra Leone
Anneke Galama of Fatal Transactions, a non-government group that lobbies for the fair distribution of profits from Afri-ca'snaturaresources, said the case also was a landmark in the fight against conflict diamonds.
The KPCS is a joint government, industry and civil society initiative to stem the flow of conflict diamonds.

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