July 30, 2017

Conflict Diamonds: Facts You Need to Know

Read more about Diamonds
This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

Conflict diamonds are those mined to help fund civil wars. Learn more about this critical issue and how you can avoid buying one.

Diamonds symbolize love for us. But for others, it means war and pain. Learn about conflict diamonds and what you can do to avoid buying one with bloodshed.

Unfortunately, diamond purchases go beyond just the 4 C's. Blood diamonds are a major concern today. Unless you know a diamond's origin, your money could be helping fund civil wars in Africa.

Not only that, but many diamonds come from mines with child labor and unsafe working conditions.

We discuss the issues with blood diamonds below. We also help you learn how to avoid buying them. Read on to get the latest information on making one of the most important purchases of your life.

What Is a Blood Diamond?

Blood diamonds are those mined in conflict areas, where the revenue is used by rebel groups to fund civil wars. They're often associated with violence and the violation of human rights. Diamonds played these vital roles:

  • Rival groups fight for control of the diamond mines.
  • Diamonds help fund the rebel military to continue the war.
  • Thousands of civilians, including children, are forced to work in the mines as slaves
  • Millions of civilians lives are lost as a result of the wars

Blood Diamonds in Africa

Conflicts mostly occurred in central and Western Africa in the 1990's. The countries include: Angola, Democratic Republic of Congo, Ivory Coast, Liberia, Republic of Congo, and Sierra Leone. At the height of the wars, it was estimated that about 4% of the world's diamonds were from conflict areas.

Today, efforts have been put in place to stop the trade of conflict diamonds. As a result, it's estimated that blood diamonds just make up about 1% of the world's diamond production now. But even this is not often enough. Continue reading to learn more.

The Prevention of Blood Diamonds

The good news is governments are doing things to prevent blood diamonds. But it's not always enough. Illegal smuggling and covering up poor tactics still exist.

In 2000, two nonprofit agencies began shedding the light on the conflict diamond. Global Witness and Partnership Africa Canada began spreading the story of the blood diamond. They let the public know that the diamonds they bought helped fuel wars. The public became aware that their diamonds have bloodshed on them. This took away the sentiment of the "Diamonds are Forever" slogan.

As a result, the diamond industry created the Kimberley Process. This is meant to make sure that the import/export of rough diamonds are not from conflict areas. 81 national governments jumped onboard.

Here are some facts about it:

  • The process requires evaluation of the diamond-producing territory.
  • Each shipment must have a Kimberley certificate that states the area is conflict-free.
  • Only countries that implemented the Kimberley Process can legally export diamonds.

In 2003, President Bush passed the Clean Diamond Trade Act in the United States. This made the Kimberley Process a part of the import/export of diamonds in the U.S. The idea was to help prevent the sale of blood diamonds in the country.

Why the Kimberley Process Isn't Enough

Unfortunately, the Kimberley Process doesn't acknowledge all issues. It only bans diamonds from conflict areas. This definition only covers "rough diamonds used to finance wars against governments."

But there are still other concerns, including:

  • Child labor
  • Inhumane and unsafe working conditions
  • Unfair wages (often none at all)
  • Sexual exploitation
  • Smuggling of diamonds to conflict-free areas

Diamonds from these kinds of mines are still allowed by the Kimberley Process, just as long there's no presence of rebel groups.

In addition, this process only applies to rough diamonds. As soon as a diamond has been cut and polished, it's out of Kimberley Process' hands.

So how do you prevent the purchase of a conflict diamond? We discuss how below.

Avoiding the Purchase of a Blood Diamond

The Kimberley Process isn't as transparent as other fair trade practices. You can still avoid the purchase of a conflict diamond. Here are some ways:

  • Talk to Your Jeweler
    Have an open dialogue with your jeweler. Ask him outright where the diamonds originated. The jeweler should be able to trace the diamond from the mine to their store. If they can't, we suggest you move on.

    Tip: If you shop online, stores like Blue Nile and James Allen have strict policies against blood diamonds. However, as discussed above, just because it's conflict-free does not mean the diamond is free from other human rights issues.

  • Consider Brilliant Earth
    Brilliant Earth was founded on a principle that goes beyond just conflict-free. They source their diamonds from mines with fair wages and without human rights issues.

    They also donate 5% of their proceeds help provide economic development in diamond mining areas in Africa. They focus on areas that suffer from poor mining practices. They even started an initiative to build schools and provide education for children so they don't have to go work in the mines.

  • Buy Diamonds from Fair Areas
    You can also specifically search for diamonds from areas that engage in fair labor practices, such as diamonds mined from Canada. The governments in Botswana and Namibia also impose labor and environmental requirements in mines.

  • Ask for the System of Warranties
    One thing you can ask for is the System of Warranties. This paper trail certifies that the diamond is conflict-free. The Kimberley Process only affects the import/export of diamonds. Once cut and polished, it loses the power of the Kimberley Process. The System of Warranties continues the paper trail to the retail store.

    Each person handling the diamond must complete the statement that the diamond was purchased through legitimate sources. This creates the paper trail necessary for conflict-free diamonds.

Alternatives to Blood Diamonds

If you'd rather avoid questionable diamonds altogether, here are some alternatives:

  • Lab-created diamonds: Lab-created diamonds prevent the exploitation issues. Instead of being mined from the Earth, these diamonds grow in a lab. As a bonus, they often cost less than mined diamonds.

  • Buy antique: Antique diamonds offer sentiment and safety. Jewelers can change the look and even the shape of these diamonds. You can also pick another setting suited to your style. You can achieve a modern look even with an antique diamond.

  • Diamond alternatives: Moissanite and cubic zirconia provide the strongest alternatives. Both are man-made and mimic the look of a diamond. They are also often much less expensive than a real diamond.

The Bottom Line

Buying the right diamond is a personal choice. We are not here to tell you right from wrong. We provide you with the details so you can make your own decision. Our hope is that you buy the diamond that suits your budget the best while meeting your needs.

We suggest you talk to your loved one. See where she stands on the conflict diamond. Then you can proceed, shopping at the stores you know don't sell blood diamonds.

Disclaimer: Opinions expressed here are those of the author's alone. Please support CreditDonkey on our mission to help you make savvy financial decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

More from CreditDonkey:


Diamond Prices


Lab Created Diamonds


History of Engagement Rings

More Articles in Money Tips

Diamonds

Ritani Review

Ritani gives you more confidence by allowing you to preview your ring in person before buying it. Sounds promising, but is this online jeweler good? Read on.

Leave a comment about Conflict Diamonds: Facts You Need to Know?

Name
Email (won't be published)


April
20
2018

MOHELA

Is MOHELA your federal loan servicer? Read on for what you need to know. Learn how to avoid common problems.
More Articles in Money Tips







About CreditDonkey®
CreditDonkey is a diamond jeweler comparison website. We publish data-driven analysis to help you save money & make savvy financial decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.