IDEX Online - Legal

Is the De Beers Class Action Suit Nearing Conclusion?

Thu, 24 May 2012 06:04:00 GMT

The ongoing saga of the nearly $300 million De Beers keeps dragging through various courts, but an end may be in sight. On Monday, the U.S. Supreme Court denied the final petition for review in the De Beers Class action settlement.

Hundreds of Undisclosed Lab-Made Diamonds Detected, Fears Many More Are Circulating

Tue, 22 May 2012 04:26:00 GMT

Concerns are rising that a large number of undisclosed lab-made diamonds are circulating in the market. Suspicions were raised after IGI detected a batch of such items a few weeks ago, according to Chaim Even-Zohar. The goods have VVS-VS clarities, leading to suspicions that the purpose of creating the diamonds was to have them misidentified as natural diamonds.

Diamond Circle Capital Rejects Takeover Bid, Proposes Liquidation

Mon, 21 May 2012 05:24:00 GMT

The board of Diamond Circle Capital is recommending shareholders to reject a takeover bid that greatly undervalues their shares and diamond inventory of the fund.

WDC Voices Support for Evolution

Tue, 15 May 2012 07:23:00 GMT

The World Diamond Council's (WDC) 8th Annual Meeting has concluded. The meeting passed a resolution expressing support for expanding the definition of "Conflict" as defined by the Kimberley Process Certification Scheme.

KP Chair, WDC Support Expansion of Definition of Conflict Diamonds

Mon, 14 May 2012 10:05:00 GMT

The World Diamond Council has passed a resolution that supports expanding the definition of conflict diamonds to "Diamond related violence in rough diamond producing and trading areas." The language substantially expands the current definition of the Kimberley Process Core Documents from trade by rebelling forces.

100 on Trial as Monstrey Case Arrives at Antwerp Court

Thu, 10 May 2012 07:38:00 GMT

Seven years after the investigation started, the Monstrey case is at court. The prosecution is charging 36 diamond companies and 96 people on various counts, main case being fraud.

Definition of 'Pearl' on CIBJO Agenda

Sun, 6 May 2012 04:44:00 GMT

What does a consumer expects to see when the object put in their hand is called "pearl"? Is it by definition a natural pearl or something broader, and therefore requires a more specific terminology?

WDC Gathering to Consider KP Reform

Sun, 6 May 2012 03:17:00 GMT

Kimberley Process reform, beneficiation in Africa and a gala dinner honoring De Beers Chairman Nicky Oppenheimer are part of the agenda of the World Diamond Council's annual meeting later this month in Vicenza, Italy.

Bribe UN Diamond Inspectors – in New Nintendo Game

Thu, 3 May 2012 09:24:00 GMT

While consumer sentiment is firmly with ethical diamond mining, the gaming industry apparently feels that gamers prefer it dirty. Players of a new game, due out soon, are required to bribe, spy and act immorally to protect and grow their diamond mining enterprise in the heart of Africa.

HRD Turns Investigation to Police after Asking 3 Clients to 'Clear Account'

Sun, 29 Apr 2012 09:53:00 GMT

As the internal investigation at HRD Antwerp concluded, the lab decided to pass the findings to the judicial authorities. After the dismissal of four graders, three diamond firms have been asked to clear their account at HRD Antwerp.