(Rapaport…October 25, 2002) A new audit company has been created to certify diamonds under the Kimberley Process. International Diamond Certification, Ltd., will be headed by Jim Keegan, the former head of KPMG Certification Services. WWW International Diamond Consultants, Ltd., has been retained as an associate for its expertise in the trade.
The announcement comes three days before the World Diamond Congress opens in London and less than two weeks before countries participating in the Kimberley Process are expected to ratify its protocols in Interlaken, Switzerland. More than 40 nations anticipate implementing the Kimberley rules in January, banning trade in diamonds not guaranteed as conflict-free.
“We thought it was opportune to launch it right now,” Keegan said. He will start by opening an office in London and expects to expand elsewhere quickly, beginning in Antwerp.
“Kimberley Process compliance has created the need for gap analysis, training and certification at all stages in the diamond process — from mined production through to retailing,” Keegan said. “International Diamond Certification, Ltd., is unique in the sector where its pragmatic style will offer internationally recognized standards of audit and certification combined with globally acknowledged expertise in the diamond industry itself.”
“Credible independent audit and certification is a fundamental prerequisite of the Kimberley Process,” said Alex Yearsley of the nongovernmental organization (NGO) Global Witness. “Rough diamond traders need to have systems in place by January 1, 2003 in order to comply with pending European Community legislation. Also diamond jewelry retailers and consumers need the guarantee that their diamonds are free from the horror of conflict diamonds.”