Are diamonds really important? After all, they are, in many ways, just a glorified form of carbon. Most rough coming out of the ground is a bit dreary looking until the cutter works his magic and turns that diamond into an irresistibly sparkly object. So what makes a diamond important?
• Diamonds are the backbone of the economy of some African nations. For Botswana, diamond revenues generate money that gives the government income to build infrastructure and provide education to its children. The diamond industry creates jobs there as well. Namibia and South Africa also greatly benefit from diamond revenue.
• Diamonds create jobs. According to Diamondfacts.org, an estimated 10 million people worldwide are supported by the diamond industry.
• Diamonds provide us with an opportunity to improve the world. The Kimberley Process (KP) started off as a hugely successful initiative that brought the industry and the governments of 70-plus countries together. While it has hit some major road bumps in the past year, all may not be lost. It has been proven that industry and government can work together. However, the KP needs an update. It needs an amendment, A Diamond Diggers and Workers Bill of Human Rights, which clearly defines correct treatment of workers and what is acceptable and what is not — from criminal acts to child labor. These rights need to be stated as an issue separately from conflict diamonds and incorporated into the KP.
• Diamonds provide a store of wealth for those who come from cultures with a history of unstable government and political strife. The stones are an easily portable and sellable item, regardless of where one ends up.
• Diamonds support creativity as designers develop new ways to use diamonds in their creations. Designers have also been instrumental in using diamonds that were once considered junk to create enticing jewelry that appeals to a whole new generation of diamond consumers.
• Diamond jewelry adds glamour to any event, whether it’s the red carpet in Hollywood, or a private party.
• Diamonds are forever and can be passed down through the generations as something of monetary, historical and emotional value.
• Diamonds bring beauty into the world with their sparkle, a scintillation that no other gemstone has.
• Diamonds have been promoted heavily to the public, and consumers understand their value from a financial, as well as emotional, point of view.
• Diamonds say “I love you” in a way that goes beyond words. It is a public symbol to the world of a couple’s love.
And so it seems that, on a number of levels, diamonds really are important.
Editor in Chief
Article from the Rapaport Magazine - January 2011. To subscribe click here.