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TRADE ALERT: Rapaport Bans Zimbabwe Diamonds-Update on Nov. 16, 2009

Nov 12, 2009 11:59 PM   By Rapaport News
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RAPAPORT...  November 12, 2010: The Rapaport Group and the RapNet Diamond Trading Network is implementing an immediate trading ban on all diamonds from Zimbabwe due to the severe human rights violations that have occurred in the country's Marange fields. RapNet members should immediately remove all RapNet diamond listings originating from Zimbabwe. Firms and individuals that continue to trade in diamonds from Zimbabwe will be denied access to all Rapaport services.

Update: This trade alert was originally for all diamonds from Zimbabwe and is now limited to those coming from the Marange diamond fields.

Tags: Kimberley Process
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Why does Rapaport ban Zimbabwe when world organizations gave Zimbabwe a 6 month extention?
Nov 13, 2009 9:06AM    By Leslie Lew
I do not trade in Zimbabwe diamonds. I have read about the abuses and expect a measured response. I am surprised tha Rapaport has instituted a ban when KP groups have given Zimbawe time.

The following is a quote from an article from Polished prices.com.
"Zimbabwe has evaded a temporary ban from a global scheme to ban trade on conflict diamonds despite calls for the country to be suspended over human rights abuses in its diamond fields, AFP reported. A four-day Kimberley Process (KP) meeting handed Zimbabwe a June 2010 deadline to implement a work-plan, rejecting the scheme's own recommendation made four months ago that Harare face a six-month suspension, the report said. "Zimbabwe is not suspended as was proposed, a joint work plan was adopted by this plenary meeting," said outgoing KP chair and Namibian deputy mining minister Bernard Esau late Thursday. A KP review mission to Zimbabwe in July recommended a six-month suspension over human rights abuses alleged by the army against civilians in the eastern Marange diamond fields. But Esau, who visited the area in August, said the meeting had decided that Zimbabwe would instead have "until June 2010 to implement the work plan", the report said. "It was felt that we should give Zimbabwe the opportunity to address issues of compliance like removing the military from the Marange diamond fields," said Esau. "If Zimbabwe is not compliant at the next review meeting in June 2010, the KP will have to think of other measures, but let us give them a chance." Civil society groups had demanded the suspension of Zimbabwe's international diamond trade, with KP investigators in July citing "unacceptable and horrific violence against civilians by authorities" in the eastern diamond fields. In a joint communique issued at the end of the Kimberley meeting, the 37 members in attendance welcomed "Zimbabwe's commitment to urgently start implementation of the joint work plan." The communique called on KP participants to ensure compliance with the system's certification scheme in Zimbabwe and to apply vigilance measures to contain illicit trade of Marange diamonds, the AFP report said. "

I believe it is important to allow world organizations some time to bring positive change to this dysfunctional country.
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Zimbabwe Origin -Surprising Diktat
Nov 13, 2009 7:25AM    By Raj
For th first time, it seems that Martin is now trying to promote the Israeli cartel at the expense of Indian manufacturers. When Zimbabwe origin Diamonds are still allowed under the Kimberley Process, then to issue a "fatwa' or diktat of this kind; is too strong a step and surely misdirected. And Martin, this time I predict your efforts will fail - as the Indian manufacturer lobbly will not be cowed down by your threats of disbarment. And some will surely move to sue you for restrictive Trade practices. And the portents of what I write is STRONGLY EVIDENT on the Rapnet listings.............. Trace your step back my friend !
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