Headlines

Israel Diamond Exchange Publishes Code of Ethics

The Israel Diamond Exchange (IDE) has published a code of ethics written specifically for it by Israeli professor Asa Kasher.

The newly written code puts Israel at the forefront in matters relating to correct and transparent administration.

Election Of The New Executive And Arbitration/Disciplinary Committee Members

The following members have been elected onto the Executive Committee and Arbitration/Disciplinary Committee of the Diamond Dealers Club of SA for the coming year.

IDE to Appoint Judge to Rule Large Arbitration Cases

In a significant departure from its 80-year tradition, the Israel Diamond Exchange (IDE) has announced that its hallowed Arbitration Institution will now be headed by a retired District Court judge, instead of a fellow bourse member.

Financial disputes between members totaling $400,000 and above, as well as appeals on smaller disputes, will be brought before the higher level of the arbitration unit that will now be headed by a judge, while disputes up to that amount will continue to be arbitrated at the lower level by longstanding IDE members.

Letter in support of KP

Dear WFDB Members and Industry Colleagues,

I would like to put firmly on record that the World Federation of Diamond Bourses (WFDB) restates its support for the work of the Kimberley Process Certification Scheme (KPCS). This organisation fights to eradicate conflict diamonds and prevent them from entering the legitimate diamond pipeline and continues to play a critical role and must have the full support of the global diamond sector.

London Diamond Bourse appoints Ethical Issues Advisor

The London Diamond Bourse (LDB) is pleased to announce the appointment of Katherine Chappell as its Special Advisor for Ethical Issues to its Council of Management.

Chappell is a longstanding member of London Diamond Bourse and a specialist in fair trade principles.  Victoria McKay, COO commented, “Kathy’s knowledge of the gemstone and diamond industry is second to none with particular emphasis on ethical sourcing and fair trade principles. For LDB, this means we can enhance our conversations around responsible sourcing and engage in a more relevant dialogue at the same time as strengthening the Bourse’s understanding of specialist issues.”

Diamonds, The Kimberley Process And Bullshit From The Stage

GemKonnect Editor Vinod Kuriyan explains why it was dangerous for Martin Rapaport to call the Kimberley Process "bullshit" at the Mines to Market conference in Mumbai last week.

Dominion Diamond Corp: Team to Evaluate Strategic Alternatives

The board of directors of Dominion Diamond Corp has formed a Special Committee to explore, review, and evaluate a range of potential strategic alternatives focused on maximizing shareholder value.

The Special Committee, working together with the company's management team and advisors, will consider alternatives which could include the sale of the company or other strategic transactions.

New Independent Director Sarine Technologies: Varda Shine

Sarine Technologies Ltd says that former De Beers' Diamond Trading Company (DTC) CEO Varda Shine has agreed to join its board of directors as an independent director.

The appointment is subject to approval at Sarine's Annual General Meeting to be held in Singapore on April 25.