Avi Paz, president of the World Federation of Diamond Bourses (WFDB), said that the uncompromising positions taken by some Kimberley Process (KP) members and the ensuing lack of agreement regarding the future of rough diamond exports from the Marange region in Zimbabwe would be detrimental in particular to the downstream end of the diamond supply pipeline.

Following the breakdown last week of the Kimberley Process Intersessional Meeting in Kinshasa, Paz said the impasse had the potential to hit the well-being of the entire global diamond industry.

Paz pointed out that the effect would be felt most immediately at the lower end of the diamond supply pipeline, but would soon have an overall negative impact on the upper end of the diamond industry, as well.



"The WFDB deplores the KP members' failure to resolve the central issue of rough diamond exports from Zimbabwe and demands all parties return to the table without delay. The clock is ticking," Paz concluded.

The WFDB president reiterated that members of the WFDB should follow the KP's and the WFDB's directives on rough diamond trading.