Industry News by Nemesis

Antwerp Steps Up Battle with Synthetics

October 5, 2016

Belgium’s diamond industry leaders pledged actively to enforce guidelines set out by the World Federation of Diamond Bourses (WFDB) to combat undisclosed synthetics.

Antwerp’s four exchanges will be among the first to implement the instructions from January 1, the Federation of Belgian Diamond Bourses said. These include an obligation to provide a clear description of goods on invoices and memo documents, as well as written declarations and disciplinary action against traders who fail to comply with them. 

Undisclosed synthetics can greatly damage the diamond industry’s reputation in the eyes of clients, retailers and consumers, said Willy Rotti, president of the Federation of Belgian Diamond Bourses. 

“It is our responsibility as the world’s largest diamond trading hub, representing well over 1,700 diamond companies, to lead by example and send a clear signal,” Rotti said. 

In addition, HRD Antwerp’s M-Screen device for screening melee will become available free of charge at Belgium’s bourses. HRD also unveiled the updated M-Screen +, which can check polished diamonds from 0.05 carats to 0.20 carats at up to 15,000 stones per hour. 

“By making the M-screen available to the Antwerp diamond community, we are taking another big step forward in our commitment to a sustainable diamond industry,” said Ari Epstein, chief executive officer of the Antwerp World Diamond Centre and newly appointedinterim CEO of HRD. 

 

Source: Rapaport

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