KP Chair announces Special Forum on rough diamond valuation

The Kimberley Process will be holding a Special Forum to talk on rough diamond valuation, according to Chair of the Kimberley Process, Ahmed Bin Sulayem, as per reports. The Forum will take place a day prior to the KP Intersessional meeting in Dubai, on May 23, in Dubai, in a collaborative effort with the Organization for Economic Cooperation and Development (OECD).

The Forum is one of the initiatives towards achieving common approaches on rough diamond valuation by exporting and importing countries, the KP Chair, Ahmed Bin Sulayem said in a ‘Letter to the KP Family’, inviting them to join in the deliberation, as per reports. Taking up the familiar talk on African diamond producing countries not receiving a fair share of the value of their diamonds, the KP Chair mentioned that one of the ways to better this is by raising awareness and education on valuation and value of rough. For this, according to the KP Chair, a set of best principles on valuation are needed, to support beneficiation and help improve the living of the people of such diamond producing countries. The talks at the Forum would focus on complex issue taken up by experts, along with in-depth engagement and consultation with stakeholders.

The Forum is expected to see an attendance of representatives from top mining companies including De Beers, Alrosa, from banks and those in the supply chain and NGOs.