The World Diamond Council
(also known during its prototype period as the International Diamond Council
) is an organization consisting of representatives from diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
manufacturing and diamond trading companies. The Council was set up in July 2000 to examine ways to reduce the number of conflict diamond
In relation to diamond trading, conflict diamond refers to a diamond mined in a war zone and sold to finance an insurgency, invading army's war efforts, or a warlord's activity, usually in Africa where around two-thirds of the world's diamonds are extracted.-Angola:Angola, a colony...
s entering the diamond market.
At almost the same time national governments also took steps to eradicate trade of conflict diamonds by drawing up the Kimberley Process
Kimberley Process Certification Scheme is the process designed to certify the origin of rough diamonds from sources which are free of conflict funded by diamond production....
which governs how diamonds are obtained and traded. The World Diamond Council has representation on the Kimberley Process's working group
A working group is an interdisciplinary collaboration of researchers working on new research activities that would be difficult to develop under traditional funding mechanisms . The lifespan of the WG can last anywhere between a few months and several years...
s and is influential in determining the implementation of the Process.
The Council was set up in July 2000 after a joint meeting of the World Federation of Diamond Bourses
The World Federation of Diamond Bourses, founded in 1947, was created to provide bourses trading in rough and polished diamonds and precious stones with a common set of trading practices. It is composed of 29 member diamond bourses. Their headquarters are in Antwerp...
(representing all the world's significant diamond trading centres) and the International Diamond Manufacturers Association (representing significant manufacturers).
The Council is currently chaired by Eli Izhakoff. There are eight other operating officers. In addition the Council has around 70 members representing jewellers, traders and manufacturers (a full list of members
). There are observers from the governments of Belgium (Antwerp is the largest diamond trading centre), South Africa (the largest diamond producing country) and Israel.
10 committees (Steering, Technical, Finance, Banking, United States Legislative, Legal, Information and Research, Producers, International Government and United Nations Liaison and Membership) report to the council.
The IDC Rules are the diamond grading guidelines devised by the International Diamond Council (IDC), which was set up in 1978 by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). There are currently five gemological laboratories worldwide that apply the IDC Rule Book. They are
- The Certificates Department of the Antwerp Diamond High Council (HRD), Belgium;
- The Swedish Testing Institute, Stockholm, Sweden;
- The Diamant Prueflabor, Idar Oberstein, Germany.
- The Diamond Certification Laboratory of Australia, Sydney, Australia