Indian Jewelry » Diamonds of India

Following an agreement for supply of rough diamonds concluded in the last decade when a high level official delegation from the then Zaire visited India and agreed that India may have its procurement centre at Kinshasha/Mbuji Mayi in Congo. An Indian delegation also visited D.R. Congo later to arrange regular rough gem diamond supply.

Diamond Trading:
Out side MIBA, there are some 12 diamond purchasing offices, with licence, grouping a number of local and foreign buyers. These offices buy diamonds on the open market in the areas of Mbuji – Mayi and Tshikapa.

It is estimated that D.R. Congo produces nearly $ 634 million worth of diamonds per annum, but a large portion of this output is allegedly smuggled out of the country.

Many overseas companies run their buying establishment in D.R. Congo. They include De Beers, Which has five diamond buying offices in the country.

Certification Scheme for Diamonds
Congo's Ministry for Mines and Antwerp-based Diamond High Council (HRD) signed an agreement in 2001 to set up a Certification Scheme for Congolese diamonds. Together with the restructuring of the internal diamond market it is aimed to allow the Government to get more grip on the diamond production. Last year DR Congo also became a member of the Kimberley Process.
The Certification Scheme includes a certificate of origin, import confirmation to the exporting country, electronic data exchange and digital photos of the goods. The United Nations and the World Diamond Council approved this system.

Kimberley Suspension:
The Kimberley Process Forum has suspended the membership of the Republic of Congo, thus making it illegal to conduct trade in rough diamonds from that country to other members of the Kimberley Process. The move follows accusations that rough diamonds are being smuggled out of the Congo onto the world market.

The Kimberley Process Forum's July, 2004 decision has reportedly been taken on the basis of a report of a fact-finding mission, that visited the Congo in late May, 2004.