Information for Business
Diamond Sector Information by WGAAP Members
To provide clear and precise information regarding the regulatory frameworks and practices related to mining titles, exploration, extraction, commercialization, exportation, and taxation/fiscal policies for diamonds.
The KP is implemented by 60 member participants, representing 86 countries and over 99% of the global rough diamond trade. Companies engaging in the trade of rough diamonds must understand the requirements of the Kimberley Process Certification Scheme.
Every shipment of rough diamond must be accompanied by a valid KP certificate. A valid KP certificate can only be delivered by the dedicated customs department or equivalent of each member of the KP.
Participants of the KP can only trade with another KP participant. It is not legal to import or export any rough diamond shipment from a country that is not a KP participant.
Each certificate guarantees that the diamonds are conflict-free, providing essential verification along the supply chain. This certification is a critical component of KPCS compliance.
Companies play a pivotal role in the KP's effectiveness, especially in implementing due diligence and supply chain verification measures. By actively supporting KP standards, businesses contribute to the stability and prosperity of diamond-producing countries.
Risk of non-compliance: Failing to comply with KP requirements while engaging in the trade of rough diamonds may lead to legal consequences, loss of market access, and damage to the company’s reputation. Businesses must view KP compliance as part of risk management, minimising exposure to reputational and financial risks associated with conflict diamonds.