Members of the World Federation of Diamond Bourses
resolved at the group’s meeting in Dubai to use “all possible sanctions”
against dealers caught not disclosing their stones have been HPHT-treated, the
WFDB announced April 14.
Donna Baker, president of the Gemological Institute of
America, gave the organization a presentation about its recent decision, first revealed
by JCK, to cancel accounts with
clients who had repeatedly submitted High Pressure High Temperature
(HPHT)-treated stones to its lab without prior disclosure, or were in violation
of other clauses in the GIA’s client agreements.
Baker said that the GIA had resolved to provide the names
of the impacted clients to the WFDB and the International Diamond Manufacturers
Association, subject to legal examination.
The WFDB executive committee resolved to instruct its legal counsel
to work in conjunction with GIA to advise what sanctions could be taken. It
said it “recognizes the serious nature of these transgressions.”
Sources said just about all of the companies involved were
not big names.
Miner BHP, which markets production from the Ekati mine in
the Northwest Territories, recently
asked clients to affirm they were not impacted by the GIA ban.
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