The Conversation (0)
Reuters reported a loophole in the Kimberly process has been exposed.
Reuters reported a loophole in the Kimberly process has been exposed.
As quoted in the market news:
The efficacy of the Kimberley Process (KP) has been thrown into doubt by a diamond field operating under a recognized government, not a rebel army, that is widely criticized for abuses of its own.
The scheme signed in January 2003 was aimed at cutting off “blood diamond” financing for rebel groups fighting a U.N.-recognized government. But allowing exports from Zimbabwe’s Marange mine has exposed a loophole: it has no mechanism to hold either the industry or producer countries to account.