WFDB Clarifies Trade Warning With Zambia

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The World Federation of Diamond Bourses has clarified its warning not to trade in conflict diamonds from Zimbabwe. In an updated statement issued Friday, the federation said the warning pertains in particular to diamonds originating from the Marange deposits. 

Comprehensive data, descriptions and photographs of these rough diamonds mined at the Marange deposits have been widely circulated by the Kimberley Process working group of diamond experts, thus making identification of these illicit diamonds easier.

 

At the same time,the warning issued by the WFDB does not pertain to diamonds mined at the Murowa deposits since the production from this source is in compliance with the Kimberly Process.

 

However, the WFDB wishes to reiterate that rough diamonds can only be traded when they are accompanied by KP certificates. “Any bourse member who trades in rough diamonds without KP certification is liable for expulsion from his bourse, which in all practical terms means the exclusion from the entire diamond business community,” said Avi Paz, WFDB president.

In its initial statement issued Thursday, WFDB called on members of its 28 affiliated bourses to not trade, directly or indirectly, in diamonds originating from Zimbabwe.