The Chair of the Kimberely Process has announced that the organisation will be covening a Special Forum on May 23 at Dubai in collaboration with the Organization for Economic Cooperation and Development (OECD) to discuss rough diamond valuation.

Representatives of leadig miners such as De Beers and Alrosa, as well as banks, others in the supply chain and NGOs are expected to attend.

The one day session will be part of a process that will aim to achieve common approaches on rough diamond valuation by exporting and importing countries, the KP Chair, Ahmed Bin Sulayem said in a ‘Letter to the KP Family’, inviting them to join in the deliberation. The meet will take place a day before the KP Intersessional begins in Dubai.

Noting that an argument is often brought forward that the African diamond producig countries are not receiving a fair share of the value of their diamonds, Bin Sulayem said that one idea to help beneficiation is to increase awareness and education on valuation and value of rough.

He added that there is a need to formulate of a set of best practice principles on valuation which could contribute to better living conditions of the many people that make living from diamonds around the globe.

Spelling out the perspective for the discussions, the letter says that the complex issue will be explored by experts, and will invlove in-depth engagement and cosnlutation with stakeholders.