JOHANNESBURG (miningweekly.com) - The International Colored Gemstone Association (ICA), the United Nations Interregional Crime and Justice Research Institute (Unicri) and the Vienna International Justice Institute (VIJI) have joined forces to develop an initiative aimed at tackling the illegal movement and trade of coloured gemstones.
The parties, which established the project at a Unicri meeting, in Turin, Italy, this week, would formulate and establish a mechanism to track and certify coloured gemstones from the country of origin.
The system, which would be based on, besides others, the environmental, social and governance performance along the supply and value chains of producers, would enhance the transparency of the distribution chain.
“In the present context, tracking gemstones from their geographical origin with a realistic approach is an opportunity for the public sector, the gems and jewellery industry, and civil society to address social, technical and environmental issues, as well as illicit and criminal practices threatening our sector,” ICA president Wilson Yuen said.
The high value and easy portability of gemstones, as well as the “extremely fragmented” nature of the industry, provided lucrative opportunities for illegal activities, he added.
The global coloured gemstone industry is valued at $10-billion to $12-billion a year and about 80% of these gemstones are produced by small-scale informal mining operations.
Participants in the initiative would include public and private sector representatives from Brazil, Colombia, Kenya, South Africa, France, Mozambique, China, Switzerland, Sri Lanka, Russia, Canada, Austria, Belgium and Tanzania.