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Article

8 Jun 2006

Author:
Lucy Reiter, Financial Times

Ethical diamonds: Transparency is the goal

The Kimberley Process, an international scheme launched in 2003, has gone some way to addressing the issues [of conflict diamonds] by certifying conflict-free diamonds. However, Tom Fyans, economic relations manager at Amnesty International UK, explains that while the Kimberley Process has had a positive effect, it needs bolstering. "The system is only as strong as its weakest link and there are areas allowing conflict diamonds to enter the chain," he says... Regulating the broader picture will be the Council for Responsible Jewellery Practices (CRJP)...its 33 members include Cartier [part of Richemont], Tiffany and Signet Group. Chief executive Michael L Rae explains that once its practices are in place by early 2008...its third-party monitoring will...ensure adherence to rules on...practices such as child labour, working hours and environmental issues. However, the CRJP is not without its critics. Greg Valerio, owner of jewellery retailer Cred, explains: "The CRJP will be good for the big players, but it will do very little for the small scale miners – particularly in Africa...[T]he likelihood of a consumer buying a diamond that is fuelling civil war is almost negligible. However, the chances that social and environmental exploitation are involved is quite high."... Rio Tinto Diamonds last week launched its Select Diamantaire Mark...[which] confirms that the diamond has been mined from one of its three mines where there are regulated health, safety, environmental and social standards.