Avi Paz warns industry not to buy Marange diamonds

Avi Paz, president of the World Federation of Diamond Bourses (WFDB) has issued a warning to members of the industry to refrain from purchasing diamonds from Marange fields in Zimbabwe, until approved by the Kimberley Process Working Group on Monitoring. As no approval has yet been given, any member found doing so will be subject to WFDB disciplinary procedures.

This warning comes in-between the recently concluded KP Intersessional meeting and the forthcoming 34th World Diamond Congress and WDC meeting in Russia. Paz has called upon all stakeholders - governments, NGOs and industry members - to cooperate to arrive at a solution that would be viable and acceptable to all sides.

Mr. Paz appreciated the very purpose of the Kimberley Process Certification Scheme and efforts of KP Chairman Boaz Hirsch, World Diamond Council President Eli Izhakoff, Stephane Chardon, Chair of the Working Group on Monitoring (WGM), representatives of the various governments and non-governmental organisations (NGOs). He also reiterated the responsibility the diamond industry shoulders to maintain complete transparency in the rough diamond supply pipeline.

"There is no other industry in the world that has taken regulatory measures similar to that of the KP," Paz said. "In addition, we have seen no other industries come together to assure that its products are untainted. The fact that the diamond industry is under scrutiny is because all parties who are involved have a common interest in protecting the integrity of the global diamond industry and trade, and as such advance consumer confidence in diamonds."