Monday, February 06, 2006

Between a Rock and a Hard Place: 'Conflict Free' Diamonds Emerge -- but Should You Believe It?


It's the issue the diamond business just can't shake -- right at the time of year when many people hide a gem in a heart-shaped box.

The "conflict" or "blood" diamond problem first drew wide notice in the late 1990s, when reports highlighted that rebels in African countries were using diamonds to fund brutal campaigns. Faced with the besmirching of the gem that represents love, dozens of countries signed on to the Kimberley Process, named for the South Africa city where they met. It requires that diamonds mined after Jan. 1, 2003, be shipped in tamper-resistant containers accompanied by government-validated certificates.

In recent months, it has become clear that it isn't foolproof. Diamonds from rebel-controlled areas of Ivory Coast appear to be reaching the market disguised as conflict-free gems. Both Kimberley Process members and the United Nations Security Council have met to try to stop it.

See full Article.