NEW YORK — Now that plans are in place for diamonds to be rescued from the hands of illicit traders and mines, will jewelry customers breathe a sigh of relief? Will they even notice?
As reported, certification guidelines, called the Kimberley Process Scheme, were adopted last week during a meeting of the Kimberley group in Interlaken, Switzerland. Ministers from more than 50 countries endorsed intergovernmental measures to create tougher regulations to protect diamonds and put an end to the trade in so-called conflict diamonds. That term refers to diamonds and proceeds from diamonds that are used to support armed conflict in countries such as Angola and Sierra Leone. While diamond industry executives and governments, including the U.S. and Britain, are cheering the new regulations, it is still unclear how much impact they will have in the minds of the final consumer.
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