Indian Jewelry » Angolan Diamond Production

Angolan Production:
Illegal production was estimated at around US$ 600 million in 1993. If this remained constant then total Angolan output is currently excess of US$1 billion. The quality and value of the diamonds from Angola vary from time to time depending on which deposits the diamonds were being mined. On an average, Cuango diamonds are the most valuable.

Diamang figures show that 65 per cent of diamond production in the sixties and seventies came from outside reserves. According to estimates; the country still holds vast reserves of alluvial, fluvial and kir1Jberlite pipe diamonds.

Global Curbs on Conflict Diamonds:
Besides the United Nations, various governments, trade organizations and the diamond sector itself have lately been cooperating globally to check the trade of 'Conflict Diamonds' - goods which are smuggled out of Angola, Sierra Leone and D.R. Congo for purchasing weapons of destruction for waging civil wars. The World Diamond Congress of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (lDMA) at Antwerp in 2000 took serious note of the problem and chartered a 'World Diamond Council' to initiate and coordinate global efforts for curbing Conflict Diamonds.

De Beers, CIBJO, India's Gems & Jewellery Export Promotion Council, Israel's Diamond Institute, Diamond High Council of Antwerp, American Gem Traders Association, etc. all joined hands for this humanitarian cause. Besides, the U.S. Congress instructing the administration to be vigilant against Conflict Diamonds means identifying 'Clean Goods'. These diverse efforts finally resulted in adoption of the Kimberley Process and self-regulating measures. These measures became operational by the end of 2002 under the overall aegis of the UN Security Council.