The World Diamond Council’s (WDC)  2014 Annual General Meeting held in Antwerp, Belgium, came to a close after a two-day discussion on a range of issues including the role played by industry in the Kimberley Process (KP); related matters including banking policies when confronted with inconsistent implementation of KP standards by companies and countries; and the supply chain risks impacting KP compliance.

The AGM also  focused on preparations for the upcoming Kimberley Process Plenary, scheduled to take place in Guangzhou, China, from November 10 to 14. Discussions were held on the Ebola crisis and providing support to the impacted countries in West Africa.

The WDC members agreed to encourage the KP Plenary to address subjects mentioned in a Financial ActionTask Force report, which were raised in a letter sent to the KP Chair earlier this month by the FATF.

The two-day meet featured a day-long workshop on the first day when "break out" groups discussed industry issues and their impact on the KP.  Commenting on these discussions, WDC said, “The participants in the session concluded that better education and communication about KP should be ongoing and better shared with the WDC membership, the greater industry and the public. Members also agreed that WDC policies and positions within KPCS committees should be more consistently coordinated and communicated to WDC members”.

The brainstorming session was based on issues raised by WDC  members, who expressed a high degree of concern about how KP compliance issues could affect bankability and liquidity in the industry and the reputation of diamond companies.

"The WDC Annual General Meeting brings around the table a representative cross-section of the diamond pipeline, including all the major mining companies, mid-stream manufacturers and wholesalers, and key jewellery retailers," said Edward Asscher, WDC President. "It provided an excellent opportunity to take a broad look at the various challenges facing our business."
 

It may be recalled that seven key organisations representing 95% of the industry  across India, Belgium, Israel and Dubai, along with CIBJO had withdrawn their participation from the WDC AGM, which thus had an important chunk of the “cross-section of the diamond pipeline” missing.

“An expected highlight of the event”, an address by Philippe Mellier, CEO of De Beers also did not materialise. “Due to travel delays, Mr. Mellier was unable to travel to Belgium, however his speech was shared with the membership by Andrew Bone, Head of Government and Industry Relations for the De Beers Group and the WDC Vice President”, the WDC explained.

"The KP is our primary safeguard and the WDC is an essential element of a credible KP," stated Mellier in his speech. "De Beers has always, and continues to give its full support to both."

Photo cap:

Edward Asscher, WDC President, addressing the meeting. To the left is Stephane Fischler, President of the AWDC, host of the Annual General Meeting.