Conflict diamonds

The increasing availability of conflict diamonds is the latest talk of the jewellery trade. As revealed in the recent Hollywood block- buster Blood Diamond, human-rights abuses occur where profits from the sale of diamonds fund armed conflicts. According to Amnesty International, an estimated 3.7 million people have died in Angola, the Democratic Republic of Congo, Liberia, and Sierra Leone in conflicts fuelled by the unregulated trade in diamonds.

The diamond industry has been estimated by some analysts to be worth US$7 billion, with about 15 per cent of that so-called blood diamonds. Pressured by non-government organisations and the public, a Kimberley Process Certification Scheme was launched in 2003 with 71 participating governments, including China, and with the support from the diamond industry. Governments joining the certification scheme are supposed to introduce measures to prevent conflict diamonds from entering the legitimate trade. Since it has come into effect, industry experts are claiming only 1 per cent of diamonds are from conflict zones.

But one can't be sure whether the rock on your finger is conflict free. One Hong Kong jewellery retailer - who prefers not to be named - says he believes Amnesty is being cautious with even the 15 per cent estimate, and that it may be much higher. 'The Kimberley Process is not really doing much,' says the Central-based jeweller.

'It's a bit of a joke, really.'

Even with a certificate, your diamond dreams could be sullied.

A retailer should be able to provide a Kimberly Process certificate, but of course, the unnamed Hong Kong retailer says, there are now fake documents being produced.