The largest mining companies and jewelry retailers are joining the banks in insisting on stricter compliance standards and diamond pipeline integrity, writes Avi Krawitz on Rapaport.
The main themes of the World Diamond Congress held in Dubai in May of transparency, responsibility and sustainability precisely are seen as summarizing the challenges facing the industry and what it has to aim for.
"The diamond industry simply cannot maintain its old 'traditional' way of doing business. The 2016 World Diamond Congress acknowledged that transparency, responsibility and sustainability are not just goals to work toward, they’re absolutely essential for the industry’s survival. That’s just the reality of today’s consumer and regulatory environment," writes Krawitz.