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Announcements and Important Updates

Our Policy on Conflict-free Diamonds

Conflict diamonds are rough diamonds illegally traded by rebels to fund armed conflicts with legitimate governments. Though most of the conflicts that originally sparked public awareness of the problem in 1999 have ended (such as those in Sierra Leone and Angola), there are still a few trouble spots in Africa where conflicts continue and some diamonds may be involved. The Kimberley Process (KP), launched in 2002, regulates 99% of the rough diamond trade worldwide, through a system of import/export controls that prevents conflict diamonds from entering the legitimate supply chain. Key industry representatives, including Jewelers of America, worked with governments and human rights groups (often called non-governmental organizations, or NGOs) around the world to bring about this solution to the conflict diamond problem. KP is supported and mandated by the United Nations with 75 nations currently participating. Diamonds are meant to be a gift of love, and we at The Classic Gem abhor the way in which some gems have been used to fund conflict. To prevent the sale of conflict diamonds, governments, our industry and human-rights groups created the Kimberley Process Certification Scheme (KPCS) in 2002, which today regulates 99% of the rough diamond supply.

We require all of our suppliers to provide us with a written warranty, stating that their diamonds come from Kimberley-certified sources and are not involved in funding conflict. The warranty statement, which was officially recognized at the creation of the Kimberley Process, reads: The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict and in compliance with United Nations Resolutions. The seller hereby guarantees that these diamonds are conflict free, based on personal knowledge and/or written guarantees provided by the suppliers of these diamonds.

DIAMONDS FROM ZIMBABWE

Our company acknowledges Zimbabwe’s achievement in meeting the Kimberley Process Certification Scheme minimum requirements, but notes that, regardless of Zimbabwe returning to full Kimberley Process status, the U.S. Department of Treasury’s Office of Foreign Assets Control continues to enforce legal sanctions that prohibit all dealings, both directly and through third parties, with a number of Zimbabwean entities that own, control or are involved in the export of Zimbabwean diamonds. As a result, we exercise appropriate due diligence with business partners, including taking additional precautionary measures for inventory protection in order to ensure compliance with U.S. law and maintain consumer confidence in diamonds. Specifically, we continue to require our suppliers to provide additional written reassurances, beyond the World Diamond Council’s System of Warranties statement, that the diamonds they supply have not been obtained in violation of applicable national laws and/or sanctions.
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