DiamondBuzz
Small number of KP participants block consensus on long-awaited reforms, WDC expresses regret
The World Diamond Council (WDC) in 21st November expressed profound regret that a small number of Kimberley Process (KP) Participants blocked consensus on long-awaited reforms designed to strengthen protections for Africa’s diamond-mining communities.
For three years, the KP Review and Reform Committee worked on the most ambitious reform effort in more than two decades. That work brought the KP closer than ever to a modernized definition of “conflict diamonds” and to the explicit protection of mining communities.
Despite this unprecedented convergence, consensus was denied, not because the evidence was disputed, nor because alternatives were proposed, but because a few Participants chose politics over people.
“Progress was killed in pursuit of the impossible,” said Feriel Zerouki, President of the World Diamond Council. “Today, some signaled that the lives of diamond miners in Africa are not as valuable as lives elsewhere. They signaled that protection is a privilege, not a principle.Hope is not a strategy,” Ms. Zerouki said. “Hope must now become pressure, accountability and consequence. We will continue – relentlessly – to fight for a Kimberley Process worthy of the lives it is meant to protect.”
- A wide majority supported expanding the KP definition to include the modern forms of violence affecting mining regions today. The proposed reform package included:
- Extending the definition of conflict diamonds to cover violence carried out by armed groups beyond traditional rebel movements, including militias, mercenaries, organized criminal networks, private military and security companies, and other non-state actors.
- Explicitly recognizing diamond-mining communities within the KP’s mandate of protection.
- Adding armed conflict and systematic or widespread violence to the list of actions covered by the Kimberley Process.
These updates reflected international best practice. The research underpinning them – shared repeatedly over three years – was never challenged, nor was contrary evidence ever presented.
Despite the disappointment, the WDC reiterated its strong belief in the Kimberley Process as a global platform that remains indispensable.
The WDC president called on all KP Participants to use this moment as a reminder that the KP’s vital work to protect diamond mining communities continues.
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DiamondBuzz
De Beers Sale Could Take 18 Months To Clear Regulatory Hurdles: Duncan Wanblad
The strategic divestment of De Beers highlights the persistent friction between corporate portfolio optimization and multi-jurisdictional regulatory compliance.
The long-awaited sale of De Beers could easily take 18 months to clear regulatory hurdles, says Duncan Wanblad, CEO of parent company Anglo American, once a deal is finally agreed.
Wanblad has, however, insisted that the company is not exclusive with any consortium and that more than one group remains involved in the process.
The strategic divestment of De Beers by Anglo American highlights the persistent friction between corporate portfolio optimization and multi-jurisdictional regulatory compliance.
Initiated in May 2024 as part of a sweeping restructuring, Anglo’s decision to offload its loss-making diamond unit was designed to sharpen capital allocation around core, high-margin assets like copper and iron ore.
However, CEO Duncan Wanblad’s candid assessment underscores a critical transactional reality: securing a signed agreement is merely the precursor to a prolonged regulatory clearance phase.
While Anglo American maintains a target to agree on deal terms by the end of 2026, market expectations regarding transaction completion require re-calibration. Antitrust approvals across key diamond consumption and trading hubs—most notably the United States, China, and the European Union—could extend the execution window by up to 18 months post-signing.
Given De Beers’ historical market concentration and influence across global supply chains, international competition authorities will undoubtedly subject any structural change in ownership to intense scrutiny.
Although the Global Diamond Consortium, spearheaded by former De Beers managing director Gareth Penny, has positioned itself as a primary contender, Anglo American has deliberately avoided granting exclusivity. While maintaining multiple bidding tracks preserves commercial leverage, it delays the precise regulatory preparation required for closing. Formal filings cannot be finalized until the specific jurisdictional footprint and capital background of the acquiring consortium are locked in.
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