Kimberley Process


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Kimberley Process

A structure set up to ensure that diamonds sold internationally do not finance wars or other conflicts. Countries subscribing to the Kimberley Process must put in place regulations requiring diamond dealers to buy diamonds only from known sources. Diamonds shipped across international borders must be certified as conflict-free or they may not be sold. The Kimberley Process was established in 2003.
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The Kimberley Process Certification Scheme, intended to keep "conflict" diamonds off the world market, has yet to prove effective.
Other scientists are less convinced that the Kimberley process will work.
One such is the European Union's insistence that the industry must complete inventory of all stocks within six months, before the Kimberley process can kick off.
The DMCC has a regular monitoring regime in place for the local industry's adherence to the Kimberley Process.
South Africa will hand over chair of the Kimberley Process to China and the latter will host the 2014 Kimberley Process, while Angola unanimously won its bid as the Vice Chairperson for the process.
It complies with United Nations resolutions and supports the Kimberley process.
Nearly nine years after the Kimberley Process was launched, the sad
A similar system already exists to monitor the trade in rough diamonds through the UAE in the form of the country's Kimberley Process office - which implements a global certification scheme that seeks to prevent the trade of conflict diamonds.
Zhakoff said the basic structure of the Kimberley Process remains the same, and that is that every legitimately traded diamond must be traced to a verifiable KP certificate.
India is the largest diamond cutting and polishing center in the world, committed to continuing as a responsible and active member of the Kimberley Process Certification System by implementing all its regulations.
They describe two approaches currently used by industries to self-regulate: the Kimberley Process and the Equator Principles.