The last thing a newly engaged couple wants is to imagine that the money they spent on their wedding engagement ring funded a war in another country. Yet many couples are unaware of the ethics involved in buying diamonds. If you're looking to buy an engagement ring, you should know all you can about blood diamonds first--and do your best to ensure that your diamond ring is conflict-free.
What is a "Blood Diamond"--and What is "Conflict Free"?
Blood diamonds are mined in a war zone and sold to fund an invading army, insurgent efforts, or the power struggles of local warlords.
As recently as the 1990's, about 15% of diamonds sold worldwide were being sold to fund war activities. Because of steps taken by the international community to make it more difficult for countries at war to export diamonds, the World Diamond Council estimates that the percentage has fallen to roughly 1%, as of 2004. However, the system isn't perfect.
In 2000, the diamond industry established the Kimberly Process. The leaders of Africa's top diamond-mining countries met in Kimberly, South Africa, to construct a process that forced its member countries to keep track of the value of the diamonds they export and import. This makes it possible to determine how much countries spend and earn from diamonds, and to hold them accountable for any illicit diamond sales.
What is a "Blood Diamond"--and What is "Conflict Free"?
Blood diamonds are mined in a war zone and sold to fund an invading army, insurgent efforts, or the power struggles of local warlords.
As recently as the 1990's, about 15% of diamonds sold worldwide were being sold to fund war activities. Because of steps taken by the international community to make it more difficult for countries at war to export diamonds, the World Diamond Council estimates that the percentage has fallen to roughly 1%, as of 2004. However, the system isn't perfect.
In 2000, the diamond industry established the Kimberly Process. The leaders of Africa's top diamond-mining countries met in Kimberly, South Africa, to construct a process that forced its member countries to keep track of the value of the diamonds they export and import. This makes it possible to determine how much countries spend and earn from diamonds, and to hold them accountable for any illicit diamond sales.
