The 31st World Diamond Congress officially opened at a ceremony sponsored by the HRD at the Waldorf Astoria in New York City. DDC President Jacob Banda and DMIA President Ronald J Friedman thanked organizers and welcomed guests.

WFDB President Shmuel Schnitzer mentioned that it was of historic justice to host the World Diamond Congress in New York. He added that the logo represents peace and tranquility and “our product will always shine above,” describing the Statue of Liberty holding a diamond in her torch.

 

IDMA president Sean Cohen touched a lately often-raised subject of the “small ones” fighting for their survival. He said, “Our future doesn’t lie in winning a battle, but in finding what our position is.”

 

He also brought up commoditization versus marketing, saying consumers buy diamonds for emotion and not for the exact value of a stone - being VS or SI. “We should [enhance] and not diminish the beauty of our diamonds,” criticizing the new grading system for make. He said it is hard to define what makes a diamond beautiful and that a grade should not be confused with beauty.

 

HRD Managing Director Peter Meeus closed the round of speeches by raising a few comparisons between Antwerp and New York and by inviting all to the HRD Conference held in Antwerp this coming November.

 

To bring some spirit and shake up the drowsy crowd the Harlem Boys Choir put on a chill-giving performance.

 

Two sessions were held in the afternoon.

 

IDMA held their election for a new president behind closed doors and Jeff Fischer was unanimously appointed new president, replacing Sean Cohen.  During the session, the association discussed the increase in rough prices and the fact that the polished prices didn’t follow accordingly. The heat of the discussion was in an open session with NGO’s Global Witness and Amnesty International telling IDMA they are not fully implementing the Kimberley Process.

 

They wanted a clear answer on how IDMA could prove the origin of a diamond to the consumer. They said the main complaints were driven from a lack of transparency, awareness and policy.

 

The WFDB session opened with a formal approval of the 30th WDC summary. Schnitzer started his report holding a moment of silence in memory of WFDB Honorary Life President Bram Fischler and former DDC President Bill Goldberg who both passed away since the last World Diamond Conference.

 

Schnitzer went over the list of subjects that would be discussed in the sessions.

Supplier of Choice:

He said DTC’s commitment to supply non-Sightholders with rough via Diamdel is a significant achievement. He claimed it was good the WFDB and DTC got into a dialogue because with confrontation they probably wouldn’t have achieved the same.

 

Rough Supply:

Schnitzer said there are new divisions of the rough supply’s pie, including Russia, independent producers in Africa, Rio Tinto and BHP Billiton. The WFDB plans to keep talking to all, DTC and others.

 

Conflict Diamonds:

Schnitzer was proud of the cooperation between the NGO’s and the WFDB, he said that together they can bring justice to the world.

 

Synthetic and Treated Diamonds:

He said consumer confidence must be ensured for a diamond as a natural product. Disclosure has to be enforced.

 

Money Laundering and Terror Financing:

Schnitzer said it is totally unfounded to connect the legitimate industry with terror financing. The WFDB intends to fully cooperate with the governments, just as they expect the governments to consult with them before legislating anything.

 

Diamonds by JCK:

Schnitzer declared the new show a success and said it might be held in alternate locations in the future.

 

President of British Diamond Importers Company from Florida Derek Parsons, who was expected to run for WFDB presidency, decided not to. He claimed he didn’t want to feel he was fighting for interest with a political agenda.

 

DDC President Jacob Banda thanked LADC President David Marcus for suggesting him for presidency but withdrew his candidacy instantaneously. Shmuel Schnitzer was therefore unanimously re-elected as WFDB president for another 2-year term.

 

Dubai and Shanghai Diamond Exchanges memberships was approved after representatives were asked before the vote if they had a written constitution, if they existed more than one year and if they guaranteed free trade to all WFDB members.

 

Both answered yes to all questions. Arthur Beller, Antwerp Diamond Bourse President, suggested a secret vote, which was overruled by the majority. 

 

Some members seemed concerned about getting visas to the countries in question, on which DMCC CEO Tawfique Abdullah answered that he represented the welcoming Dubai Diamond Exchange and not the country’s customs. An Israeli member reminded the worried crowd that many Israelis are not granted entry visas to the U.S. either, to the enjoyment of the assembly.

 

The Dubai Metal and Commodity Centre and the Shanghai Diamond Exchange were unanimously approved for WFDB affiliated bourse membership.

 

Sitting on top of the world, or at least at the Rainbow Room in Rockefeller Center, guests enjoyed delicious food and foremost a breathtaking view of the Big Apple at the IDI sponsored dinner, an entertaining evening hosted by the Israeli Ambassador to the United Nations Dan Gillerman.

 

Gillerman entertained the crowd and joked how, nationality wise, he felt the crowd was similar to the UN, but regarding friendliness, it definitely wasn’t. He said he showed eternal gratitude to the Israel Diamond Exchange for its leadership in its perception and worldwide openness.

 

Synthetics and treated diamonds led the list of topics discussed during the second day sessions at the WDC. After educating presentations from researchers, including Tom Moses of GIA and Ann Peeters of HRD, the debate was opened.

 

Questions were raised regarding consumer confidence in case HPHT treated diamonds were to get certified just as natural diamonds. Antwerp Diamond Bourse President Arthur Beller suggested HPHT treated should not be certified because it could get confusing. Tom Moses wittily answered that by not certifying treated diamonds, “maybe they’d go away.” He said the value of certifying such stones was how that allowed them to expand the research.

 

HRD’s Meeus said it might be time to review if labs should grade “non-real things.” He suggested they should just be refused, as “it is not only nomenclature, it is allowing them into our brand,” with diamonds incidentally being the brand. To that, Freddy Hager - London Diamond and Club President - added, “the integrity and survival of our product is at stake.” It was “dangerous with the fine prints,” and suggested certificates for treated diamonds should be in a different color to distinguish them.

 

The group decided to vote at a later stage behind closed doors.

 

Today WFDB and IDMA are expected to come to conclusions and release resolutions regarding the implementation and future of the Kimberley Process and whether treated diamonds should be certified or not.