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How does the global diamond trade
Material posted : Administrator Publication date: 23-03-2014

In mid-March in Panama, launched the first in South America diamond exchange. Despite the remoteness of this region from Antwerp — a traditional center of gemstone trading platform will work under the same rules: the transaction will be stapled traditional Jewish wish "Mazal ubracha", which means "luck and blessings". As expected, the exchange will allow you to establish trade in the region, which is the most undeveloped of the diamond market in the world.

Most diamonds (about 65 percent) are mined in Africa, specifically in Angola, Botswana, Democratic Republic of the Congo, Namibia. Also, these gemstones are found in significant amounts in Russia, Australia, Canada. After extraction, the diamonds are transferred to the sorting, processing and sale. Most of the stones are sold through a network of diamond exchanges, the number of which after opening of the South American platform has grown to 29.

The intention of the initiators of the opening of the stock exchange in Panama, it will allow the South American market to grow from the current eight billion to ten billion dollars by 2017. The lack of trading platforms has forced local dealers to go for the product in the US and Europe on their own, which inevitably has an effect on the final cost to the consumer.

In Latin America are almost 12 thousand jewelry stores, 750 wholesalers and 320 mining companies. Diamonds on the Panama stock exchange will come from the largest shopping centers such as new York, Antwerp, tel Aviv, Dubai, Hong Kong and Mumbai.

The largest center of diamond trade is considered to be Antwerp, where there is most of the world's transactions. The ignorant passerby, who wanted to buy a piece of jewelry, hardly will pay attention to four buildings on the street Hoveniersstraat (Hoveniersstraat). Except that the audience in this place will be special: mostly Jews, Russians, Indians, Chinese. In General, the diamond trade employs about eight thousand people, which is 1.5 thousands of offices and every day making trades at $ 140 million.

The diamond market, where the leading role for several centuries belongs to the representatives of the Jewish nation, for the transaction enough of the handshake and the already mentioned wishes "Mazal ubracha". Minimum documentation hints at the closure of the market. Indeed, from the street to make it in this business of more than $ 50 billion a year is practically impossible.

Even if you go to a meeting with a friend the trader, to be held in the building of the diamond exchange Antwerpsche Diamantkring, you'll be searched is not worse than the G20 summit. At the entrance you need to provide not only a passport — you in addition will take the right index finger. The data may seem the guards suspicious, and the police in such cases comes quickly.

The precautions are not excessive. Over the past decade, attackers managed to steal from the Antwerp traders of diamonds in total, amounting to more than $ 160 million. In the history of trade in precious stones there are the tragic cases. In October 1981, at the synagogue on Hoveniersstraat blew up a car stuffed with explosives. The attack killed three people. According to investigators, the terrorists ' target was members of the Jewish community involved in the diamond trade.

Become a member of the diamond trade is even more difficult than getting into the stock exchange building. Even if you are willing to pay for a product more than it really costs, it does not mean that you will sell, told the Guardian Spanish businessman of Indian origin Dominguez, Vashi (Vashi Dominguez). He is one of the few — managed to become a diamond trader no acquaintances and relatives in this business. After some time, he still managed to persuade one of the traders to sell the diamonds, and after this deal, things began to improve. Now he owns the website where you can buy jewelry products, Diamond Manufacturers Ltd.

Discussing the gems, who can forget "blood diamonds" that are mined in areas where fighting is. Funds received from the sale of such diamonds, usually to Finance wars. "Bloody" was called the stones, which were mined during civil wars in Sierra Leone, Angola, côte d'ivoire, Liberia, Congo, Zimbabwe. The warlords were ready to sell diamonds is actually on the street, and much cheaper than the official company. Many dealers were attracted by the low price. They turned a blind eye to the origin of the rocks, and thus, the spread of wars in Africa.

The world's attention to this issue, raised only in the late 90-ies. In the early 2000s in Antwerp adopted a resolution. Its purpose was opposition to the sale of diamonds from war zones. In the end, was created the international system of certification of imported and exported diamonds. Selling stones that are not certified, are banned in many countries. The scheme is called Certification of the Kimberley process (named after the city in South Africa). Independent organizations doubt its efficiency because in many African countries, corruption is rampant, and the documents needed are easy to obtain for a bribe.

Source: "Tape.Ru"

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