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MINING: Region (MRB Nov 2001): Conflict diamonds deal raises concerns over competition.
Concerns have been raised in the EU and US about the 'Kimberley Process' for the certification of diamonds from conflict zones and how it may breach World Trade Organisation rules.
This could cause disputes between those who sign the accord and non-signatory states. Agreement still has to be established in this key area after a meeting of producing countries in Botswana this month.
They are aiming for full implementation of the certification scheme by the end of next year.
The hope is that once the Kimberley Process scheme is adopted by the UN, it will ensure that rough diamonds will be exported in sealed containers accompanied by a certificate of origin - as already happens in Angola. Lobbying groups have welcomed the deal.
In a parallel development, the US House of Representatives on November 28 passed a bill to fight the trade in conflict diamonds. The legislation gives the US president the ability to bar imports of rough diamonds from countries that fail to take effective measures against conflict diamonds. The bill will now go to the US Senate.
Who gains
While the deal will make it more difficult for rebel groups buying from wildcat miners to turn as large a profit as they have done before, the major players have everything to gain from the certification process, say analysts.
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