(Rapaport…July 11, 2000) Diamond manufacturers discovered to be trading conflict diamonds will be barred from buying rough from De Beers, the Financial Times reported.
The move, to end the sale of conflict diamonds, which accounts for approximately three percent of the world’s diamond trade was said to be done in the face of growing conflict diamond attention, and to quell fears that a consumer boycott, like what occurred in the fur industry, could transpire.