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US diamond importers can self-certify mining Source: JVC

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Importers will not need to submit proof of a diamond’s country of mining when registering shipments to the US but should keep the right documentation for inspection, according to guidance the Jewelers Vigilance Committee (JVC) released last week.

In January, US Customs and Border Protection (CBP) announced a requirement to state the “country of mining” for all imports of diamonds and diamond jewelry entering the country.  Earlier this month, the government agency told industry members these declarations “should be verifiable with the documentation provided with the entry.” 

However, these papers will not be mandatory when filing shipments in the Automated Customs Environment (ACE) processing system, the JVC explained in a member alert last Thursday.

“We’ve been told that the additional documentation (proof of origin) isn’t going to be required by the ACE system,” Sara Yood, the JVC’s CEO and general counsel, clarified in a separate email to Rapaport News on Tuesday. “An importer can choose to upload it with an entry, or they can leave it out but will need to provide it when shipments are spot-checked at customs.”

CBP continues to require self-certification statements for applicable diamond imports to verify they do not contain Russian inputs, the legal guidance group said in the member alert. The new rules, which will go into effect in April, apply to loose diamonds and finished jewelry, but not to lab-grown diamonds, the JVC explained. CBP has “acknowledged” certain provisions for “grandfathered” goods — diamonds that predate sanctions on Russia — but has not confirmed how entry will work, the committee pointed out.

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DiamondBuzz

Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump

The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict

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Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.

Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.

The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.

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