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Encyclopedia > World Diamond Council

The World Diamond Council (also known during its prototype period as the International Diamond Council) is an organisation consisting of representatives from diamond manufacturing and diamond trading companies. The Council was set up in July 2000 to examine ways to reduce the number of conflict diamonds entering the diamond market.

At almost the same time national governments also took steps to eradicate trade of conflict diamonds by drawing up the Kimberley Process which governs how diamonds are obtained and traded. The World Diamond Council has representation on the Kimberly Process's working groups and is influential in determining the implementation of the Process.

The Council was set up in July 2000 after a joint meeting of the World Federation of Diamond Bourses (representing all the world's significant diamond trading centres) and the International Diamond Manufacturers Association (representing significant manufacturers).

The Council is currently chaired by Eli Izhakoff. There are eight other operating officers. In addition the Council has around 70 members representing jewellers, traders and manufacturers (a full list of members (http://www.worlddiamondcouncil.com/memberscom.shtml)). There are observers from the governments of Belgium (Antwerp is the largest diamond trading centre), South Africa (the largest diamond producing country) and Israel.

10 committees (Steering, Technical, Finance, Banking, United States Legislative, Legal, Information and Research, Producers, International Government and United Nations Liaison and Membership) report to the council

External links

  • Official homepage of the Council (http://www.worlddiamondcouncil.com/)

  Results from FactBites:
Home - DiamondFacts.org (334 words)
Most people are unaware of the role diamonds play in bringing real benefits to people in the countries around the world where diamonds are sourced.
Diamondfacts.org is dedicated to presenting the facts about conflict diamonds, along with how diamonds are driving economic growth and prosperity in countries around the world.
Diamond revenues enable every child in Botswana to receive free education up to the age of 13.
As diamond manufacturers and traders, primarily responsible for the conversion of rough diamonds into polished and the marketing of those polished diamonds, we are proposing a number of concrete steps to be taken by all parties concerned which we believe will lead to a more effective and immediate resolution of the problem.
The establishment of the World Diamond Council is crucial to this process in that the World Diamond Council would be required to balance all imports and exports and accredit importing and exporting authorities in each country.
By the same token, the World Diamond Council would be able to remove the accreditation of countries to import diamonds if it was found that those countries were allowing the import of non-verifiable rough.
  More results at FactBites »



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