If the world’s diamond buyers are really serious about ending the trade in blood diamonds, then we need to put an end to the system of greed that puts profit above ethics.

So says the Chairman of  the Certified Mineral Specimen Regulator and spokes person for DiaLab,  Baron Baretzky, who has called for the Kimberley Process Certification Scheme to be put under the spotlight by the European Commission as part of a move towards increased global transparency in the industry that effects the climate of Peace within Africa.

The Kimberley Process was introduced by a United Nations Resolution in 2003, and requires governments to certify that shipments of rough and uncut diamonds are not being used in conflict areas to finance devastating wars. The Kimberley Process has 49 members, representing 75 countries.

According to some diamond experts, the Kimberley process has reduced the trade in conflict diamonds so that they now represent a fraction of one percent of the international trade in diamonds, compared to estimates of up to 15% in the 1990s.
“Can we truly say that the Kimberly Process benefits the poor and sustains a climate for global peace?”  Chairman asked.

“It is clear that the demand for diamonds is growing, with the number of stones on the market expected to double by 2020. But what happens to diamonds which are found to be part of an illicit trade? They are not like ivory … they are not destroyed.”

Diamonds out-performed global commodity trades and investments in the last year.  According to the international trade history of 2009- 2010 platinum prices decreased by -62.4% and gold by -21.0%, while the trade in polished diamonds only dropped by -7.0%.

“I look at the 100 million people in Africa who live on less than $2 a day, and I wonder where is the prosperity from diamonds that the Kimberley Process promises,” Baron Baretzky said. “It is clear that it is not reaching the people on the ground, including those who risk their lives mining for the precious gems.”