RAPAPORT… PRESS RELEASE, December 20, 2011, New York: Martin Rapaport, Chairman of the Rapaport Group will be addressing the Group’s policy of trading Marange diamonds in conference calls on Thursday, December 22, 2011 at 3:00 p.m. Mumbai time and again at 12:00 p.m. New York time.
All 6,750 member companies of RapNet – Rapaport Diamond Trading Network have been invited to dial into the telephone conferences which will address the RapNet ban on Marange diamonds and the actions that RapNet will take to enforce the ban including suspension, expulsion and the public naming of those companies that violate it.
In a personal letter to RapNet members today Mr. Rapaport outlined the significant problems that remain regarding Marange diamonds including:
•There are continuing reliable reports of human rights abuses related to these diamonds.
•There is concern that the money used to pay for these diamonds will finance new waves of violence and repression.
•While these diamonds may be legal for trade in India, China and many other countries, their sale to RapNet members in the U.S. and EU is illegal due to government sanctions.
The press is invited to join the conference calls on Thursday, December 22, 2011.
India: 3:00 p.m. (Mumbai)
Toll-Free number for India: Tel: 1-800-103-2009 Conf Code: 447860#
International Callers. Tel: +91-22-3940-6000 Conf Code: 447860#
New York: 12:00 p.m. (EST)
Toll-Free number: 1-888-757-2790 Conf Code: 3329853
Tel: 1-719-359-9722 Conf Code: 3329853
Please contact media@diamonds.net for any additional information and to set up an interview time with Mr. Rapaport.
Rapaport Media Contacts:
International: Alissa Goren +1-718-473-0082
U.S.: Sherri Hendricks +1-702-893-9400
Mumbai: Mittal Kalsy, +1-91-99-97699-30069
About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.Rapaport.com.
About RapNet: RapNet– The Rapaport Diamond Trading Network- is the world’s largest diamond trading network. With daily listings of over 800,000 diamonds valued at US$5.58 billion and over 6750 active trading members in 78 countries, RapNet is the primary international marketplace for GIA and other certified diamonds. RapNet is available in English and Chinese. Additional information is available at www.rapnet.com.