MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
EditorsNov 08, 2011
A closer look at the ‘Kinshasa contract’
Last week at its plenary meeting in the Democratic Republic of the Congo, the Kimberley Process (KP) ended its long-standing impasse on the issue of exporting rough diamonds from the Marange area of Zimbabwe, more due to the fact that...
Last week at its plenary meeting in the Democratic Republic of the Congo, the Kimberley Process (KP) ended its long-standing impasse on the issue of exporting rough diamonds from the Marange area of Zimbabwe, more due to the fact that United States abstained from voting than because the situation there has necessarily improved or the process has made great strides in bringing everyone together. It reminds me of that last, lone juror who believes the defendant is guilty but bows from pressure from other jurors to switch their verdict to “not guilty” so the trial will end and everybody can just go home.
The agreement allows for imports to begin immediately from two mines and for monitors to be able to visit other Marange mines and see what conditions are like there before they begin exporting.
Since the meeting, the U.S. State Department has said that it chose not to stand in the way of the KP finally reaching a deal--a compromise that, it admits, could have been “stronger”-- rather than allow the stalemate to continue. Many have speculated that the United States agreed to the exports so it could win the KP chairmanship for 2012, which it ultimately did.
So now the KP, and the industry as a whole, are faced with two interesting propositions going forward.
1) We’ve now made an agreement with Zimbabwe, but much speculation abounds about the government actually keeping its word. As Zimbabwean human right activist Farai Maguwu observed last week, “Zimbabwe has not honored the previous agreements and there is no reason for optimism that Zimbabwe will honor these agreements.”
2) The United States now is in the driver’s seat of the KP and, ostensibly, thinks it can push through some major reforms, reforms deemed necessary by Jewelers of America and the Diamond Importers and Manufacturers Association (DMIA) prior to last week’s meeting. I will be curious to see how this plays out 2012. As we all know, the KP is structured as such that a complete consensus is needed to move forward on any issue, and that has not always been so easy to obtain.
It took two years to reach an agreement on Zimbabwe (keeping in mind that there was no true consensus reached there; when push came to shove, the United States simply did not vote). So, how easily will more changes come in 2012? Does the United States think
it has curried enough favor by abstaining on the Zimbabwe issue to push through other reforms it deems necessary? I guess only time will tell.
In the meantime, it’s worth noting for retailers here in the United States that despite the KP vote, Marange diamonds remain illegal because of U.S. sanctions on Robert Mugabe and his government. JA maintains that members avoid trading in Marange stones, and learn as much as possible about their supply chain, difficult as that may be.
As JA alluded to in the release it penned with the DMIA, the industry also is the process of working on a mechanism for greater inventory control that would, ultimately, help bolster consumer confidence, above and beyond what the KP can offer.
I don’t have many details on this initiative right now but it will be interesting to see what this industry coalition comes up with, and if the United States is able to make any headway in overhauling the KP.
It looks like 2012 is shaping up to be as interesting as 2011.
In the meantime, it’s worth noting for retailers here in the United States that despite the KP vote, Marange diamonds remain illegal because of U.S. sanctions on Robert Mugabe and his government. JA maintains that members avoid trading in Marange stones, and learn as much as possible about their supply chain, difficult as that may be.
As JA alluded to in the release it penned with the DMIA, the industry also is the process of working on a mechanism for greater inventory control that would, ultimately, help bolster consumer confidence, above and beyond what the KP can offer.
I don’t have many details on this initiative right now but it will be interesting to see what this industry coalition comes up with, and if the United States is able to make any headway in overhauling the KP.
It looks like 2012 is shaping up to be as interesting as 2011.
More on Editors
The Latest
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
