Exchange Presidents Gear Up for 2015 Presidents Meeting

Mining Weekly reported that the presidents of exchanges affiliated with the World Federation of Diamond Bourses are preparing for the 2015 Presidents Meeting. In light of the current issues facing the diamond market, the federation believes it will be “one of the most important assemblies of its kind ever held.”

As quoted in the market news:

The bi-annual meeting, which would take place in Tel Aviv, Israel, from June 14 to 16, would see the gathering of the presidents of the organisation’s 30 member bourses and would tackle the shortage of industry financing and declining profitability – ‘undoubtedly’ the most pressing issues in the diamond industry, asserted WFDB president Ernie Blom.

‘Rarely have we had to deal with so many challenges and so it is critical that all the bourse presidents attend to present their particular perspective and to hear the input from their colleagues across the globe.

‘At the WFDB, we are focused on the problems that our members are facing and gatherings such as the June meeting present us with an ideal opportunity to discuss what moves we can take to try to resolve them satisfactorily. We must come together to ensure that industry stakeholders are fully aware of the need to help us find solutions and discuss ways forward,’ he said in a statement.

He added that the number and scale of undisclosed synthetic diamonds entering the global market was also of concern.

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