The world’s largest diamond supplier will try this month to broker an industry-wide agreement to end the trade in stones from areas of armed conflict in Africa.
De Beers, which handles around two-thirds of the world’s supply of rough diamonds, will launch the initiative at the World Diamond Congress, which takes place in Antwerp from 16-20 July.
De Beers’ chairman Nicky Oppenheimer and its managing director Gary Ralfe have sent a letter to industry associations and diamond bourses around the world calling for a ‘collective response’ to the issue of diamonds being used as a source of funding for rebel armies in Africa. They hope discussions on the matter can begin in Antwerp.
De Beers says so-called ‘conflict diamonds’, from troubled areas such as Sierra Leone and Angola, represent only around four per cent of world production, but it is concerned about the reputational issues raised by trade in conflict zones.
It therefore wants individuals or companies found to be dealing in such diamonds to be expelled ‘from the world diamond community’.
De Beers itself pulled out of trade with Angola last year, and earlier this year announced it would label the uncut diamonds it sells as having been sourced from non-conflict areas.
It wants the industry to adopt similar measures, and has said it will be willing to ‘deploy its staff, skills and expertise’ to support such initiatives.
However, Oppenheimer said: ‘De Beers cannot answer for the entire diamond industry. To be successful these solutions need the whole-hearted acceptance and active support of the worldwide trade.’