UAE Kimberly Process chair unveils digital diamond traceability platform

 Ahmed Bin Sulayem, the UAE’s Chair of the Kimberley Process (KP), has reported over 1.06 billion carats of combined rough and polished diamonds were traded through Dubai in the past five years. Almost 179 million carats of rough and polished were traded in 2024 in one of the world’s largest diamond trade hubs.  The figures were announced during the UN-mandated Kimberley Process Intersessional Meeting, hosted last week at DMCC’s Uptown Tower in Dubai. The event included the launch of Verifico, a digital platform developed under the UAE Chairmanship to enhance the security and traceability of KP certificates.  Verifico will be offered to all KP participants as part of the UAE’s broader digital modernisation drive. The meeting also saw the UAE call for a first-ever ministerial meeting of KP participants to confront the most urgent challenges facing the Kimberley Process and the global diamond trade. “There are three markets currently keeping the diamond industry alive. The first is the United States as the largest jewellery retail market, the second is India as the world’s cutting and polishing hub, and the third is the UAE, as the largest rough diamond hub in the world, which has traded over 1.06 billion carats of combined rough and polished diamonds in the past five years – a figure that we are proud to reveal,” Bin Sulayem said. “We need the Kimberley Process to remain focused, so that all of us can continue to support trade growth, resilience and development.  “To that end, I call for a high-level Ministerial meeting of the Kimberley Process – one that brings together producing, trading and consumer countries at the political level – to chart a path forward on the most urgent challenges facing the Kimberley Process.” The UAE was the first and only Arab country to Chair the Kimberley Process in 2016, an international group tasked with regulating the global diamond trade. Established in 2003 by the United Nations, 85 participating countries seek to ensure that unregulated rough diamonds do not enter the legitimate diamond market as a means to finance conflict.  The UAE chaired the KP for a second time in 2024 and will continue to lead the KP as Custodian Chair in 2025, under the theme “Year of Best Practice.” Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com