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India Should Focus on Incremental Changes in KP
Mumbai (By Suresh Chotai): More than two decades after the Kimberley Process (KP) was born, the diamond industry still faces an uncomfortable truth: the global system designed to keep “Conflict diamonds” out of the market is stuck in the past. The Kimberley Process defines conflict diamonds narrowly—stones used by rebel movements to finance wars against legitimate governments. That definition made sense in the early 2000s, when conflicts in Sierra Leone and Angola shocked the world. But today, violence linked to
India Should Focus on Incremental Changes in KP
Mumbai (By Suresh Chotai): More than two decades after the Kimberley Process (KP) was born, the diamond industry still faces an uncomfortable truth: the global system designed to keep “Conflict diamonds” out of the market is stuck in the past. The Kimberley Process defines conflict diamonds narrowly—stones used by rebel movements to finance wars against legitimate governments. That definition made sense in the early 2000s, when conflicts in Sierra Leone and Angola shocked the world. But today, violence linked to
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WFDB Meeting to Discuss New Strategy
Antwerp: The World Federation of Diamond Bourses’ (WFDB) Executive Committee meeting, which will take place next week in Idar-Oberstein, Germany, will enable the organization to hold discussions on the global diamond industry and a new strategy going forward. The meeting, being hosted by Germany’s Diamond and Gemstones Exchange, will take place on November 1-2, and be attended by Executive Committee
Argyle Mine Next Headache for Troubled Industry?
Perth: In an opinion piece, Business News (West Australia) industry specialist Tim Treadgold says Rio Tinto’s Argyle mine hasn’t been profitable for the past 5 to 6 years, citing a royalties report by the Australian government released in June. With global diamond demand and prices plunging, that situation is hardly likely to improve, Treadgold says. In addition, the author questions
De Beers' Hunt for New Diamond Sources
Gaborone: The Wall Street Jounal takes an inside look at De Beers’ efforts to uncover the first major diamond mine in at least 20 years, an exploration drive that started in earnest last year in the southern desert of Botswana. “De Beers’ undertaking highlights the dilemma faced by diamond miners,” writes Scott Patterson of the WSJ, “who are forecasting diminishing
Myanmar's "Big State Secret": Jade
Naypyidaw: Global Witness has issued a major report, “Jade: Myanmar’s ‘Big State Secret’”, revealing an industry far bigger than previously thought, worth up to US$31 billion in 2014 alone (for the sake of comparison, the value of 2014 global diamond mining is estimated at $14-18 billion). That is equivalent to nearly half the GDP for the whole of Myanmar, but
WFDB Meeting to Discuss New Strategy
Antwerp: The World Federation of Diamond Bourses’ (WFDB) Executive Committee meeting, which will take place next week in Idar-Oberstein, Germany, will enable the organization to hold discussions on the global diamond industry and a new strategy going forward. The meeting, being hosted by Germany’s Diamond and Gemstones Exchange, will take place on November 1-2, and be attended by Executive Committee
Argyle Mine Next Headache for Troubled Industry?
Perth: In an opinion piece, Business News (West Australia) industry specialist Tim Treadgold says Rio Tinto’s Argyle mine hasn’t been profitable for the past 5 to 6 years, citing a royalties report by the Australian government released in June. With global diamond demand and prices plunging, that situation is hardly likely to improve, Treadgold says. In addition, the author questions
De Beers' Hunt for New Diamond Sources
Gaborone: The Wall Street Jounal takes an inside look at De Beers’ efforts to uncover the first major diamond mine in at least 20 years, an exploration drive that started in earnest last year in the southern desert of Botswana. “De Beers’ undertaking highlights the dilemma faced by diamond miners,” writes Scott Patterson of the WSJ, “who are forecasting diminishing
Myanmar's "Big State Secret": Jade
Naypyidaw: Global Witness has issued a major report, “Jade: Myanmar’s ‘Big State Secret’”, revealing an industry far bigger than previously thought, worth up to US$31 billion in 2014 alone (for the sake of comparison, the value of 2014 global diamond mining is estimated at $14-18 billion). That is equivalent to nearly half the GDP for the whole of Myanmar, but
