HomeDiamonds & GemstonesRecovery in Angolan diamond sector

Recovery in Angolan diamond sector

Angolan geology
and mining minister,
Francisco Queiros
Washington DC, United States — 05 December 2012 – The Angolan diamond sector is recovering from the international crisis of 2008 and European crisis of 2011, according to the country’s geology and mining minister, Francisco Queirós.

Angolan news agency Angop reports that on the sidelines of the Kimberley Process meeting in the American capital, the minister noted that Angola had been badly affected, both in financial and social terms, by both crises, “and the sector is now in a phase of recovery.”

Macauhub News Agency says that, referring specifically to the Kimberley Process, Queirós reminded his audience that Angola had been involved in seven working groups set up to discuss technical issued related to the process, and said that it was, “an instrument that has proven to be very efficient and secure in terms of the industry and has contributed to the stability of the diamond market.”

The Kimberley Process began when diamond producing countries in Southern Africa met in Kimberley, South Africa, in May 2000, to discuss ways of preventing the trade of conflict diamonds (also known as blood diamonds) and to ensure that violence and war was not funded in this way.

In December 2000, the United Nations General Assembly approved a resolution to set up an international certification system for uncut diamonds and in November 2002 negotiations between governments, the international diamond industry and civil organisations resulted in creation of the Kimberley Process Certification Scheme (KPCS).

The KPCS document outlines requirements for controlling rough diamond production and trade and came into force in 2003 when participating countries started applying its standards.

Source: Macauhub News Agency. For more information, click here.