CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
EditorsNov 08, 2011
A closer look at the ‘Kinshasa contract’
Last week at its plenary meeting in the Democratic Republic of the Congo, the Kimberley Process (KP) ended its long-standing impasse on the issue of exporting rough diamonds from the Marange area of Zimbabwe, more due to the fact that...
Last week at its plenary meeting in the Democratic Republic of the Congo, the Kimberley Process (KP) ended its long-standing impasse on the issue of exporting rough diamonds from the Marange area of Zimbabwe, more due to the fact that United States abstained from voting than because the situation there has necessarily improved or the process has made great strides in bringing everyone together. It reminds me of that last, lone juror who believes the defendant is guilty but bows from pressure from other jurors to switch their verdict to “not guilty” so the trial will end and everybody can just go home.
The agreement allows for imports to begin immediately from two mines and for monitors to be able to visit other Marange mines and see what conditions are like there before they begin exporting.
Since the meeting, the U.S. State Department has said that it chose not to stand in the way of the KP finally reaching a deal--a compromise that, it admits, could have been “stronger”-- rather than allow the stalemate to continue. Many have speculated that the United States agreed to the exports so it could win the KP chairmanship for 2012, which it ultimately did.
So now the KP, and the industry as a whole, are faced with two interesting propositions going forward.
1) We’ve now made an agreement with Zimbabwe, but much speculation abounds about the government actually keeping its word. As Zimbabwean human right activist Farai Maguwu observed last week, “Zimbabwe has not honored the previous agreements and there is no reason for optimism that Zimbabwe will honor these agreements.”
2) The United States now is in the driver’s seat of the KP and, ostensibly, thinks it can push through some major reforms, reforms deemed necessary by Jewelers of America and the Diamond Importers and Manufacturers Association (DMIA) prior to last week’s meeting. I will be curious to see how this plays out 2012. As we all know, the KP is structured as such that a complete consensus is needed to move forward on any issue, and that has not always been so easy to obtain.
It took two years to reach an agreement on Zimbabwe (keeping in mind that there was no true consensus reached there; when push came to shove, the United States simply did not vote). So, how easily will more changes come in 2012? Does the United States think
it has curried enough favor by abstaining on the Zimbabwe issue to push through other reforms it deems necessary? I guess only time will tell.
In the meantime, it’s worth noting for retailers here in the United States that despite the KP vote, Marange diamonds remain illegal because of U.S. sanctions on Robert Mugabe and his government. JA maintains that members avoid trading in Marange stones, and learn as much as possible about their supply chain, difficult as that may be.
As JA alluded to in the release it penned with the DMIA, the industry also is the process of working on a mechanism for greater inventory control that would, ultimately, help bolster consumer confidence, above and beyond what the KP can offer.
I don’t have many details on this initiative right now but it will be interesting to see what this industry coalition comes up with, and if the United States is able to make any headway in overhauling the KP.
It looks like 2012 is shaping up to be as interesting as 2011.
In the meantime, it’s worth noting for retailers here in the United States that despite the KP vote, Marange diamonds remain illegal because of U.S. sanctions on Robert Mugabe and his government. JA maintains that members avoid trading in Marange stones, and learn as much as possible about their supply chain, difficult as that may be.
As JA alluded to in the release it penned with the DMIA, the industry also is the process of working on a mechanism for greater inventory control that would, ultimately, help bolster consumer confidence, above and beyond what the KP can offer.
I don’t have many details on this initiative right now but it will be interesting to see what this industry coalition comes up with, and if the United States is able to make any headway in overhauling the KP.
It looks like 2012 is shaping up to be as interesting as 2011.
More on Editors
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
