The diamonds of Côte d’Ivoire ( Ivory Coast) are available to the world market after the lifting of the embargo under the Kimberley Process.In lifting the diamond export ban on Tuesday, the UN Security Council welcomed Ivory Coast’s “overall progress towards restoring security, peace and stability,” and its efforts to adhere to the international body that regulates the diamond trade, the Kimberley Process.
We remember that in 2003, when Soro Guillaume rebels raided the diamond mines to finance their conquest of the Ivory Coast power, the UN imposed sanctions on Ivory Coast and it banned all diamond trade.
The risk of conflict diamonds known as blood diamonds in the regular circuit was too high ” had explained at the time Donckier Margaux, spokesman for AWDC (Antwerp World Diamond Centre).
With the Kimberley process, transparency is required.
Trade may not resume for a country like Côte d’Ivoire if the strict requirements of the Kimberley Process Certification Scheme (KPCS) are met.
Naturally, the Ivory Coast have created a monitoring mechanism able to meet all the criteria imposed with the help of Belgium.
The planned date based on the new Ivorian supervisory body was set for 1 January 2015.
So after a period of observation of this new supervisory body, the UN agreed to lift the embargo.
It is important to remember that according to experts, Côte d’Ivoire could annually produce 150 000 to 200 000 carats of rough diamonds in the coming years for a value of $ 25 million.