De Beers Group has confirmed that it’s totally ready to satisfy the necessities that now prolong to diamonds of 0.5 carats and above, following the growth of G7 import restrictions on Russian diamonds on 1 September 2024.
De Beers’ proprietary Finest Apply Rules and Pipeline Integrity requirements have lengthy offered assurance on the provenance of its diamonds.
With these programmes, De Beers’ tough diamond clients will proceed to have the ability to present proof of diamond provenance as the scale threshold included within the G7 import restrictions reduces from 1 carat to 0.5 carats.
De Beers has welcomed the strikes that the G7 has made to work with trade and diamond producing nations, with an extension of the dawn interval, a concentrate on the tip purpose of traceability and the implementation of a sensible method for ‘grandfathered’ diamonds bought earlier than the introduction of restrictions on Russian provide.
De Beers is dedicated to diamond traceability, and its Tracr blockchain platform is increasing at tempo, with 2.6m tough diamonds and 370,000 polished diamonds now registered.
This comes after the group acknowledged that by 1 September 2024 it goals to add all its gem-quality tough diamonds of 1 carat and above (equal to 0.5 carat polished) onto Tracr.
Al Cook dinner, De Beers Group CEO, stated: “De Beers totally helps the work being carried out by the G7 to ban the commerce in Russian diamonds and we’re dedicated to working with the G7, the diamond trade and our associate governments to make sure there may be an efficient system put in place.”