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The Current State of the Conflict Diamond Trade

Selling Diamonds in Syosset

Retail Diamond Ring

There has been a lot of controversy over diamond trade in the past, especially with conflict diamonds that come from the continent of Africa. Today, the situation has improved immensely. Ninety-nine percent of diamonds that sell today have zero affiliation with conflict.  In 2002, the Kimberley Process Certification System, a UN-backed process that has virtually eliminated the trade in conflict diamonds, was established.

Sure, some could argue that the situation has not completely been eradicated because there is still a one percent chance that the diamond you are selling or buying is a conflict diamond. Chances are, if you are selling or buying diamonds in a town such as Syosset, New York then you don’t have to worry about the issue at all. The United Nations and the United States have made great efforts to block out these conflict diamonds. It is highly unlikely that a diamond that you want to sell or buy will be a conflict diamond in the United States.

How Diamonds Help

Today, the diamonds that come from less developed countries help economies and the standard of living. Just a few facts that may surprise you about the diamond industry:

  • Diamond revenues enable every child in Botswana to attend free education through the age of 13.
  • The diamond mining industry creates over 40% of Namibia’s annual export earnings.
  • Approximately $8.5 billion worth of diamonds a year come from African countries.
  • Diamond companies in Africa offer free testing and counseling for employees to avoid AIDS/HIV
  • The Diamond Development Initiative was established to improve the working conditions of artisanal miners.
  • An estimated 5 million people have access to appropriate healthcare globally thanks to revenues from diamonds.

The point is, don’t be afraid to sell diamonds in Syosset, or anywhere else for that matter. The chances that your diamond is a conflict diamond is extremely low, even nonexistent. Trading diamonds helps the economy of African nations and diamond mining and trading nations around the globe. The trade of diamonds is now providing a positive source of income for many poor individuals around the world that would otherwise not be able to make a living.

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