Ethics in Diamonds

Word Origin: Noun  A system of moral principles in ethics and culture.

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PGJ Centre

14 Diamond Companies move into the PGJ Centre

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$2.1 billion in diamonds from Russia for Indian companies

Twelve Indian diamond companies including Kiran Gems, Asian Star and Rosy Blue India, have signed three year contracts with ALROSA at the World Diamond Conference, 

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Diamond Deal between Russia and India

Russia and India to strengthen trade ties in gem and jewellery trade, By signing long term contracts, which include an agreement on direct supply of rough diamonds from Russia.

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Very relevant today.

DCLA Trustmark

The DCLA Trustmark is a definitive image that identifies jewellers selling DCLA certified diamonds - diamonds guaranteed to be independently and accurately graded to the highest recognised standards of the International Diamond Council (IDC) and the World Jewellery Confederation (CIBJO).

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Honest Diamond grading

Honest Diamond grading

Martin Rapaport has released a comprehensive editorial entitled “Honest Grading” that discloses the systematic over-grading of over one hundred thousand diamonds, valued at more than a billion dollars. Rapaport calls upon the legitimate jewelry trade to reject those selling over-graded diamonds that fool consumers into believing they are getting better diamonds than they are receiving.

The article declares that it is an unfair trade practice to grade diamonds using Gemological Institute of America (GIA) grading terminology while applying alternative standards that overgrade the diamonds. It insists that suppliers be held repsonsible for what they sell and provide full refunds in the event that diamonds re-graded by the GIA are more than one color or one clarity below the grade indicated when sold.
“The Rapaport Group is opposed to the misrepresentation of diamond quality. The over-grading of diamonds is an unfair practice that hurts consumers as it destroys the legitimacy of the diamond trade.
“Retailers who sell over-graded diamonds with GIA terminology and non-GIA grading standards are at great risk. When consumers try to re-sell their diamonds or send them to the GIA for re-grading and discover significant quality differences, there will be hell to pay.

“Consumers must be warned not to trust misleading diamond grading reports and those that sell them. Suppliers must be held responsible for the quaity of the diamonds they sell. The diamond trade must prioritize the protection of consumers above profits,” said Martin Rapaport, Chairman of the Rapaport Group.