Paz Reminds the Trade Not to Buy Marange Rough

140 95 Rapaport News

RAPAPORT… Diamond industry members were reminded today that they should not purchase diamonds originating from the Marange area of Zimbabwe until the Kimberley Process (KP) has approved these exports.

World Federation of Diamond Bourses (WFDB) president Avi Paz advised members that since export approval has not yet been granted to Zimbabwe, any member found buying Marange rough would be subject to disciplinary procedures.

Paz hailed the KP Certification Scheme (KPCS) and emphasized the exemplary role the diamond industry plays in advancing complete transparency throughout the rough-diamond-supply pipeline.

“There is no other industry in the world that has taken regulatory measures similar to that of the KP,” Paz said. “In addition, we have seen no other industries come together to assure that its products are untainted. The fact is that the diamond industry is under scrutiny because all parties who are involved have a common interest in protecting the integrity of the global diamond industry and trade and as such, in advancing consumer confidence in diamonds.”

LH

Leave a Reply

Your email address will not be published.