Ivory Coast to Resume Diamond Trade

With the aid of Belgium’s FPS Foreign Affairs and the Antwerp World Diamond Centre, the Ivory Coast will be able to resume its diamond trade by adhering to the conditions of the Kimberley Process.

As quoted in the press release,

Experts believe Ivory Coast has the potential to produce 150 to 200,000 carats of rough diamonds annually in the years ahead, representing a value of $25 million. Ivory Coast will launch its new control panel on 1 January. The UN will follow developments closely and will publish an assessment report every six months. In addition, the Kimberley Process Certification Scheme ’s own control panel will be visiting Ivory Coast to see if all conditions are being met, and to formulate recommendations if necessary.

Antwerp World Diamond Centre spokesperson Margaux Donckier stated,

In 2003, the UN imposed sanctions on Ivory Coast, forcing the country to stop trading diamonds. The sanctions were put in place because the risk of conflict diamonds entering the regular circuit would have been too great otherwise.

Click here for the Antwerp World Diamond Centre press release