Kimberly Process Loses Sparkle, US Moves to Trade Conflict Free Diamonds

Bloomberg reported on how consumers can ensure the diamonds they purchase are conflict free as the Kimberly Process is replaced by new U.S. regulations.

As quoted in the market news:

The worst manifestation of the weakness of the scheme is in Zimbabwe. In 2008, the government deployed soldiers to seize the massive, newly discovered Marange diamond fields, killing more than 200 miners and forcing others, including children, to dig for gems. Zimbabwean authorities claim that the establishment since of four enterprises — mining companies in joint ventures with the government — has regularized operations in Marange. But security guards still attack local miners to drive them off, preserving the area’s riches for the government’s chosen few.

Click here to read the full Bloomberg report.