KP A Vital Consideration For Future Of Diamond Industry, Says Polyakov

A Story by gemkonnect

The future of the Kimberley Process (KP) is a vital consideration for the future of the whole diamond industry, said World Diamond Council (WDC) President Andrey Polyakov. He was speaking at the concl

The future of the Kimberley Process (KP) is a vital consideration for the future of the whole diamond industry, said World Diamond Council (WDC) President Andrey Polyakov. He was speaking at the conclusion of the annual Intersessional Meeting of the KP in Perth, Australia.

“This week we talked about the fundamentals of our future as we enter the three-year cycle of the Kimberley Process Certification System (KPCS) review; a process that is vitally important as it will determine not only the future of the Kimberley Process, but also the future of the entire diamond industry for years to come,” said Polyakov.

He added, “To elevate the KP to the next level of effectiveness, we must look beyond administrative issues and make sure that responsibility and expertise go hand-in-hand in the coming years. We took a strong step forward in this regard at the meeting by rigorously and constructively questioning all aspects related to the origin of the diamond product that consumers ultimately purchase. It is in all of our best interests to continue this productive dialogue so that we can continue to deliver on our promise to eradicate conflict diamonds from the supply chain.”

The World Diamond Council (WDC), along with other KP tripartite members, took significant steps forward on many issues concerning the rough diamond pipeline. For the second consecutive year, the WDC also held an Observers Forum alongside the KP Intersessional meeting, where WDC members, African Diamond Producers Association, the Civil Society Coalition and the Diamond Development Initiative achieved consensus on proposals to strengthen KP internal controls, establish a policy on conflict of interest and create a KP permanent secretariat.

At this year’s event, the KP Chair called for an “Indaba” to guide the plenary session. It is a popular African consultancy approach to problem solving based on one individual listening to each participant’s opinion in turn to find resolution to a complex problem. This was the first time such an approach was employed at the meeting.

A separate forum on diamond equity was also held at this year’s Intersessional which was met with great interest by African mining nations. The conversations created an important dialogue between US and Indian retailers and diamond producers in African Countries.

“The fruitful discussions we had will continue in the coming months in the spirit of partnership and commitment to finding solutions to our challenges. One of the topics discussed at length was the need for African countries to get maximum benefit from artisanal mining in order to develop their local economies and improve the living conditions of their citizens. Compliance with business and social responsibility standards will be the path forward to making this possible. The WDC, through its members, plays an important role in this area by providing access to important evaluation training that supports professional appraisers in their work in areas where help is needed and recommended by the KP,” Polyakov said.