JA’s Runci to Speak at Congressional Hearing

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(Rapaport, September 14, 2000)—Following the World Diamond Council’s recent adoption of nine-point plan to end the sale of conflict diamonds, Matthew A. Runci of Jewelers of America, chairman of the WDC’s U.S. Legislative Committee, will appear before a congressional subcommittee hearing to inform legislators of the plan.

The WDC was formed in July at the World Diamond Congress as a joint effort between the World Federation of Diamond Bourses and the International Diamond Manufacturers Association to address the burning issue of conflict diamonds It has received financial backing of almost $1 million from rough producers, including De Beers.

De Beers Managing Director Gary Ralfe stated: “There can be no doubt, of course, that the council has to be a success. Following the important resolutions passed in Antwerp in July, the eyes of the world remain on the diamond business. The United Nations, individual governments, the NGOs (non-government organizations) and the media will all be watching to see that those resolutions are implemented effectively. The World Diamond Council is key to that process, and all of us in the diamond industry must give the WDC our full support and invest it with real authority.”

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