What Does the Kimberly Process Require of the Trade?
Mining companies and rough diamond buyers:
- Must keep able records to demonstrate that diamonds were mined or purchased from legitimate source
- Need to provide a System of Warranties declaration to accompany all transactions within the country.
Recipients of rough Diamonds:
- Must be a KP participant country and shipment must come from a KP participant country
- If a shipment crosses a national border it must be accompanied by the System of Warranties declaration
- Recipients must keep records of KP certificates and warranties for auditing
NB: To re-export, recipients must apply for Re-export Certificate and show that all previous transactions were accompanied by a System of Warranties declaration.
Diamond polishers, manufacturers, dealers and retailers:
- Polished diamonds do NOT need a KP Certificate for export however, each sale of polished diamonds requires an industry System of Warranties declaration
- Must keep records of warranties for auditing by own accountants
It is the responsibility of all members of the trade to:
- Act decisively to ensure that never again can conflict diamonds enter the legitimate trade
- Understand the issues surrounding Conflict diamonds.