Brazil adopts Kimberley Process rules

Brazil’s federal government has adopted the Kimberley Process to certify that uncut diamonds are not extracted from conflict zones or unregulated areas, Business News Americas reports.

Brazil’s federal mining department, DNPM, also released the information on its Web site.

The regulation prohibits the sale of diamonds from areas that do not have DNPM licensing and forbids the entrance of remittances from diamond sales coming from countries that have not adopted the program.

Fines can be as high as 100% of the value of the products that do not have the certification.

The Kimberley Process has its origins in the decision by Southern African diamond-producing countries in 2000 to take action to stop the flow of conflict diamonds, while at the same time protecting the legitimate diamond industry.

The initiative has grown and now includes more than 70 countries involved in the production, export, and import as well as trade in rough diamonds.

The rules were published in Brazil’s official newspaper Diario Oficial da Uniao on Oct. 14.