Kimberley Process Looking at Rough Diamond Pricing Standards

Rapaport reported that the chair of the Kimberley Process is consulting with key members of the diamond industry regarding the first set of global standards for rough diamond pricing.
As quoted in the market news:

Ahmed Bin Sulayem, the 2016 chair of the KP and executive chairman of the Dubai Multi-Commodities Centre, is in discussions with miners and the World Diamond Council (WDC) as part of a study aimed at determining best practice for valuing rough stones, with plans in place to reach initial findings by the annual KP intersessional meeting in Dubai in May.
“The KP chair’s office can confirm it has indeed started a thinking process of how to reach best-practice principles on valuation,” a spokesperson for Bin Sulayem told Rapaport News.
“It is a long, complex journey in which we hope to take some first concrete steps by intersession,” the spokesperson added. “Outlining a best practice should involve industry exports as well as government valuators. The KP chair is currently reaching out to several players including the mining corporations and the WDC.”

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