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WDC Issues Advisory to International Diamond Industry:
Refrain from trading in Marange Diamonds till issues resolved
By: Diamond World News Service
Mar 25 2011 11:12PM
Reference: 5864  


The World Diamond Council issued a statement advising the international diamond community to “refrain from trading in and exporting goods from the (Marange) region until the situation and the status of these goods becomes clearer”.

The statement follows widespread reports that Mathieu Yamba, Chair of the Kimberley Process had permitted exports of Marange diamonds , subject to the oversight of the KP Monitor, while several issues still remained unresolved, and no joint agreement had been reached. The US and the EU had immediately protested against this statement.

The US had said that it would put out the names of all those involved in transactions of diamonds from Marange on its government website, warning American companies not to deal with them. It also warned that it would ask the Office of Foreign Assets Control to scrutinize these transactions.

The US, EU and Israel, the WDC stated, are all “seeking clarity on procedural issues” connected to Yamba’s statement.

While applauding Yamba's efforts “to bring an end to the apparent impasse that currently exists regarding the status of production and stocks from Marange”, and offering every assistance to resolve outstanding issues, the WDC remained firm that trade in Marange diamonds should not take place till these matters have been resolved to the satisfaction of all parties.

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