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Kimberley Process Re-Admits Venezuela

Nov 20, 2016 11:04 AM   By Rapaport News
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Venezuela will recommence exports of rough diamonds as members of the Kimberley Process (KP) unanimously agreed to end the nation’s eight-year absence.

Delegates approved the South American country’s re-admission at the KP plenary in Dubai last week, Venezuela’s Mining Ministry announced.

The country committed to host a review visit no later than six months after the resumption of exports, the KP said in a communiqué.

Venezuela withdrew itself from the Kimberley Process Certification Scheme in 2008 over accusations traders in the South American country were trafficking uncertified diamonds to evade taxes on exports.

The nation shipped out 23,472 carats of rough valuing $$882,130 in 2005, the last year in it exported diamonds, according to KP data.

Image: OsmanFernandez
Tags: Kimberley Process, Kimberley Process Certification Scheme, KP, mining, Rapaport News, Rough Diamonds, Venezuela
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