World Diamond Council Urges Governments to Enact Regulations on Conflict Diamonds

On October 29, 2002, the World Diamond Council (WDC), a New York-based organization composed of diamond manufacturers and traders, passed a resolution to encourage diamond dealers to guarantee the sources of the diamonds they buy and sell. The resolution marks a significant step in the diamond industry?s effort to quell criticism of its role in financing wars in Africa, particularly in Liberia, Sierra Leone, and the Democratic Republic of Congo. The WDC resolution comes a week before the scheduled November 5 meeting of representatives of governments involved in the Kimberley Process, the process of negotiations involving diamond producing and trading countries. Responding to critics who argue that the measures devised during the Kimberley Process do not go far enough to curb the trade of conflict diamonds, particularly from Sierra Leone, Angola, and the Democratic Republic of Congo, the WDC cautioned that to challenge the measures at such a critical time would pose a tremendous risk. While the lengthy series of negotiations may result in new regulations in the countries involved, it remains to be seen whether they will have much of an effect on the trade of illegal diamonds.