What is the Kimberley Agreement?
The Kimberley Process Certification Scheme (KPCS) is a process that is supposed to prevent the entrance of “blood diamonds” or “conflict diamonds” on the diamond market. It is an international certification scheme for regulating trade with rough diamonds. The objective is to remove conflict diamonds from the global supply chain while helping to protect legitimate trade. According to the official Kimberley Process website, “today, participants actively cover 99.8% of the worldwide trade.“
What are blood or conflict diamonds?
The terms blood or conflict diamonds are used for diamonds that were, often illegally, mined in war zones. The profits from selling these diamonds are often used for financing wars or warlords’ activities. The term is meant to highlight the negative consequences of mining and trading diamonds in certain areas. Often, these diamonds are mined under conditions violating human rights. Hence, blood diamonds should not be purchased under any circumstances.
How does the Kimberley Process prevent blood diamond trade?
The Kimberley Process is an institution for self-regulation. It was established as a multilateral trade regime in 2003. The Kimberley Process Certification Scheme (KPCS), the organization’s core, outlines the rules trade with rough diamonds must follow. Under the KPCS, States implement safeguards on shipments of rough diamonds and certify them as conflict-free.
Rules for diamond trade according to the KPCS:
The official Kimberley Process website states that
- Participants must satisfy minimum requirements, establish national legislation, institutions and import/export controls.
- Participants commit to transparent practices and to the exchange of critical statistical data.
- Participants commit to trading only with fellow members who also satisfy the fundamentals of the agreement.
- Participants must certify shipments as conflict-free and provide the supporting certification.
How can I make sure the diamond I purchase was traded in accordance with the Kimberley Process?
A system of warranties has been endorsed by all KPCS participants. The safest way to make sure that you buy a diamond that is in compliance with the Kimberley Agreement is to buy a GIA-certified diamond.
We, at My Diamond Ring, offer only GIA-certified diamonds.