News

Advanced Search

IDMA Endorses Development Initiative, Questions Derivative Proposals

Jul 3, 2007 10:56 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT...The International Diamond Manufacturers Association (IDMA) reaffirmed the group's endorsement of the Diamond Development Initiative during its bi-annual presidents' meeting in Amsterdam June 24-26, 2007. 

IDMA presidents also engaged in an extensive discussion on pending projects meant to develop and implement a financial market in diamond futures and derivatives.  The consensus was to question the benefits prospective investors would have in these financial proposals, and the presidents "expressed grave concerns regarding the risks to the industry resulting from the anticipated volatility, which will be injected into an otherwise reasonably stable marketplace."  IDMA presidents urged that any diamond financial product must incorporate full transparency and remain free from any potential conflicts of interest.

In the context of preserving consumer confidence in diamonds, IDMA confirmed CIBJO president, Gaetano Cavalieri would be establishing guidelines to ensure that all diamond grading laboratories are properly equipped with the technology and expertise necessary to ensure detection and full disclosure of all treatments, simulants, and synthetic diamonds.

IDMA welcomed  the Diamond Manufacturers Association of Canada as a full member.  During their deliberations, members also explored strategies to find alternative sources for rough diamonds.  Recognizing the emergence of new diamond manufacturing centers, IDMA Presidents invited all new manufacturing centers to submit an application for membership.

 

Tags: CIBJO, Laboratories, Manufacturing
Similar Articles
The Diamond Office in AntwerpBelgium Diamond Shipments Drop
Oct 22, 2019
Belgium’s diamond trade slowed in September, continuing a downward trend for the year. A 25% decline in polished
DPADPA Chief Lieberherr Steps Down
Oct 15, 2019
Jean-Marc Lieberherr has resigned as CEO of the Diamond Producers Association (DPA), an organization he has led since
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.