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Burkett's Article Library > An Update on Conflict Diamonds
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An Update on Conflict Diamonds
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Major Source of Income
Members of the fine jewelry industry have long deplored these activities, but finding the solution was daunting. To stop all trading in diamonds would not only deprive the public of a great source of pleasure, but it would permanently disrupt the income of about 10 million people. Further, it would put even greater economic pressures on the poorest African countries, many of whose major incomes are derived from diamond mining. (An estimated five million people in southern Africa now have access to appropriate healthcare because of revenues from diamonds.)
Addressing the Problem
In 2002, a coalition of governments, non-governmental organizations and the diamond industry worked together to establish the Kimberley Process Certification System. This United Nations-backed program, which controls the sourcing and shipping of diamonds, has virtually eliminated the trade in conflict diamonds. Today, it is estimated that more than 99% of the world’s supply of diamonds come from sources free of conflict.
More Assurance
What’s more, new additions to the USA Patriot Act require strict cash reporting and “know your customer” guidelines that will further protect buyers and sellers of diamond jewelry. If you have any questions about this issue, please feel free to ask our informed sales associates. To learn more about how the jewelry industry is addressing this important issue, consult the new Web site created by the World Diamond Council, www.diamondfacts.org.
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