Major World Diamond Trading Group Bans Blood Diamond Trade

Diamond Minining in Zimbabwe near Mutare

 

The world saw an unprecedented move in the diamond industry when Rapaport Diamond Trading Network, a US based diamond price and information provider declared on Monday that any member who knowingly trades gems from the two Zimbabwe mines where laborers were killed and children were enslaved, will be expelled.

This announcement from the Rapaport shocked many in the industry as their declaration came about a week after international regulators declared the gems from the mines of Zimbabwe conflict free and thus permitting an action of 900000 carat diamonds. The declaration was to back off the ban that was imposed on these diamonds in November 2009.

Appreciating the move Tiseke Kasambala, a human rights activist from Zimbabwe said, “This is the first time we have heard of a large group like the Rapaport group actually taking such a strong stand.”

Technorati Tags: Blood Diamonds Banned,Conflict Diamonds from Zimbabwe banned,Diamond news

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1 Comment

  • September 17, 2010

    Alden Leahman

    We continue to be astounded at the gold price lately. Was just seeing how it has jumped up one more time. What will the top for gold is gonna be?

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