Clean Diamond Trade Act

Posted by Maire Loughran Nov 5, 2006

My latest article is about my favorite jewelry designer, Todd Reed.

In anticipation of writing the article I purchased some raw diamonds which are Reed's trademark gemstone. I usually head to ebay first if I am unfamilar with where to get a particular item.

Sure enough there was a 10 carat lot of cubed raw diamonds for sale. They were advertised as being conflict free under the Clean Diamond Trade Act.

This act and the Kimberley Regulation Process was put in place to monitor the sale of diamonds (conflict diamonds) that might be used to fund terrorist activities in the Congo. It is estimated that the proceeds of about 3% all of diamond sales are used to fund terrorist activities and that the USA purchases about 65% of the world's supply of diamonds.

Experts claim varying degrees of success with the process.