Conflict free Diamonds & Minerals/ Ethical Sourcing
We, at YDiamonds, understand and share our customers’ concern for the origin of our diamonds. Our number one priority is to follow all rules of ethics and human rights in procuring diamonds for use in our jewelry, and we guarantee that all of our diamonds are certified conflict free. In agreement with the Patriot Act, the Kimberley Process, and other United Nations resolutions, we guarantee that we solely legally obtain every diamond used in our jewelry through legitimate diamond sources.
KPCS, or the Kimberley Process Certification Scheme, was created in order to confirm the origin of all rough diamonds from sources known to be conflict-free. Southern African diamond producing countries created the guidelines for the KPCS, which the United Nation later adopted. The guidelines established that all diamonds would be tracked from their place of origin to the destination of delivery by independent systems. All dealers of polished diamonds in the United States must uphold the laws of the Patriot Act, which requires that they sustain compliance with the KPCS, or they will be penalized by Homeland Security, as well as both the United States’ Justice department and Treasury.
In the 1990s, most of the diamonds in the world came from Africa, especially the areas with the most conflict. There were rebel armies in these parts of Africa who were taking advantage of these alluvial diamond fields in order to fund their wars against their enemies, the established governments. This in turn created a cycle of human and environmental abuse. The alluvial diamonds are located only a few feet below the surface of the earth. While they were easy to mine, the process not only had a damaging effect to the environment, but the people who were actually mining for these rebel groups were mostly the youth, who were susceptible to many dangers, including Conflict Free Minerals
It is believed that the main cause for the violence in these areas is the multitude of natural minerals like tin, tungsten, tantalum and gold, now referred to as “conflict minerals.” Violent and armed groups are involved in ongoing fights for control over the mines in this region, and they are willing to use any force necessary to mine and sell the minerals. And this in turn allows more funding for these groups, and therefore becomes an ongoing cycle of violence.
In August 2012, the United States Securities and Exchange Commission (SEC) approved the final rule regarding the sourcing of conflict minerals as defined in the Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 1502. Under this rule, publicly traded companies must report annually to the SEC the presence of “conflict minerals” originating from Central Africa in either the products they manufacture or contract to manufacture, or use in the production process.
While Ydiamonds is a privately owned company, we are committed to doing all we can to make sure our gold is conflict free. We have begun a process that meets the Organization for Economic Co-operation and Development (OECD) guidelines to comply with this regulation. This includes establishing compliance requirements for our direct suppliers regarding conflict minerals, implementing controls and reporting and undertaking appropriate sourcing efforts.
As a socially responsible company, YDiamonds is devoted to the happiness and well being of all people, and we will always continue to conduct our business through ethical and moral guidelines.