IndependentsMar 14, 2025
Stafford’s Diamonds in Ohio to Close After 40 YearsThe Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.
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
Editors' Picks
Sponsored by
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
Events & AwardsMar 14, 2025
JVC Reveals Recipient of Stanley Schechter AwardReeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.
CollectionsMar 14, 2025
Piece of the Week: Sorellina’s Aries Zodiac PendantThe piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
MajorsMar 13, 2025
Tanishq Opens 2 New Stores in the U.S.The Indian jewelry brand recently opened stores in Atlanta and Seattle.
Weekly QuizMar 14, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement RecoveryCEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
MajorsMar 13, 2025
Jewelers Mutual Names New CFO, TreasurerChris Anderson is joining the insurance provider as the new chief financial officer and treasurer.
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit BhansaliBhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.
IndependentsMar 12, 2025
Marla Aaron Migrates to LondonThe New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for SaleA metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo LineupsOrganizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
