The Kimberley Process Chair has hosted a one-day ‘KP Chair Special Forum’ on rough diamond valuation, as a precursor to the Kimberley Process Intersessional meetings taking place in Dubai, according to a press release from the Kimberley Process Chair.
The forum, attended by over 200 market participants, covered topics on rough diamond valuation challenges as well as the OECD’s work on enhancing the private sector contribution to responsible mineral supply chains and support to developing countries in raising revenue from executive industries. The forum was joined by industry leaders from across the diamond industry, including large mining corporations, mining experts and senior advisors from KP Working Groups.
“Rough Diamond Valuation is a challenge that is not limited to one country, one diamond center, or the Kimberley Process – it is a critical challenge for the entire diamond industry. In particular, it is a top priority for the diamond exporting countries in Africa, which are looking to get the best value from their mineral resource wealth. As KP Chair, it is my goal that our work will lead to a concrete action plan towards a set of best valuation practices and ultimately a level playing field for all importers and exporters of rough diamonds,” notes KP Chair Ahmed Bin Sulayem.
Two more workshops are planned later in the year. These will be on the subject matter of: valuation of rough diamonds and the possible development of best practice principles for rough importing and exporting centers in close collaboration between government and industry participants.
