And although its reach once made it the world's most prominent trader of conflict diamonds, the firm has emerged as the industry's leading proponent of reform. The Kimberley group, which met in Brussels last week, has proposed a global diamond regime whereby all rough diamonds would receive certificates of origin from the time they are mined, so that dealers will know conflict diamonds by the absence of official documentation. The United Nations has endorsed this approach, but diamond mining nations have yet to iron out the particulars. The legislation, the industry asserts, would be less disruptive of the global diamond supply chain. Templesman was a key player in stopping diamond sanctions against South Africa during apartheid.
Minerals account for half of Botswana's revenue, with diamonds comprising the bulk.
It all comes down to the image of the diamond and the threat to its market. And no one knows that better than the diamond industry. If you appreciate the information we provide, please support our work. Make a donation or become a member of Global Policy Forum.