Does De Beers use child labor?

“The sites have to meet a minimum set of requirements: No child labor, no forced labor, no violence,” says Feriel Zerouki, De Beers' senior vice president, international relations and ethical initiatives. “We also have environment requirements.

Is the De Beers group a cartel?

DeBeers, founded by Cecil Rhodes in 1870, has been a highly successful and effective controller of the diamond mar- ket, having developed a unique purchasing and marketing cartel that has influenced prices in the market virtually undisturbed for almost a century.

Are De Beers diamonds conflict free?

Ethically sourced and responsibly crafted

Our stringent sourcing procedures, selection processes and certification requirements mean that the diamonds in every piece of De Beers jewellery are guaranteed to be ethically produced and 100 per cent conflict-free.

Does De Beers use blood diamonds?

Currently on their website, De Beers boasts that 100% of their diamonds are conflict free. However, the company only cites the Kimberley Process, a process they helped to create, in regards to this certification.

How ethical is the diamond industry?

Because of the Kimberley Process, 99.8% of diamonds are now certified conflict-free and there is much greater accountability and transparency in the diamond industry. Unfortunately, just because a diamond has been certified by the Kimberly Process does not necessarily mean it is ethical or even conflict-free.

Feds bust company using child labor to clean meatpacking plants

Are any diamonds truly ethical?

There are only a few reliable sources for truly Conflict Free Diamonds or Ethically Sourced Diamonds. Australia, Canada and Botswana Africa are the most well known and prolific. The Australian Mines are the Argyle Mine owned by The Rio Tinto Mining Company, and the Ellendale owned by Goodrich Resources.

Is Blue Nile ethically sourced?

Blue Nile sells only ethically sourced diamonds, proudly enforcing the highest industry standards.

Why is De Beers controversial?

However, De Beers has been called out by human rights groups for “unethical” practices in mining diamonds and buying illicit diamonds from African rebels to fund wars, the NYTimes reports. On Tuesday, the Wakanda Forever star took to Instagram to share a photo of herself adorned in diamonds.

What is De Beers being accused of?

For much of its 124-year history as the dominant force in diamonds, De Beers has been accused of price fixing and other anticompetitive conduct.

Do children work in diamond mines?

Because children are considered an easy source of cheap labor, they are regularly employed in the diamond mining industry. In some areas of Africa, children make up more than a small part of the workforce.

Does De Beers have a monopoly on diamonds?

Today, De Beers no longer has control of the diamond industry, and for the first time in a century, market supply and demand dynamics, not the De Beers monopoly, drives diamond prices. In the late 19th century a massive diamond discovery in South Africa prompted a diamond rush.

Are blood diamonds still a thing?

Diamonds that fuel civil wars are often called "blood" or "conflict" diamonds. Although many diamond-fueled wars have now ended, conflict diamonds remain a serious problem.

Is De Beers unethical?

Our stringent sourcing procedures, selection processes and certification requirements mean that the diamonds in every piece of De Beers jewellery are guaranteed to be ethically produced and 100 per cent conflict-free.

What did De Beers do wrong?

De Beers had spent years linking the purchase of a diamond to a man's success, but never did the same with women. They never created the demand for women to buy rings, so they ended up targeting the wrong consumer.

Is De Beers a good brand?

The entire De Beers conglomerate is based around diamonds. From the very beginning, they put much care and time into ensuring they were producing and purchasing beautiful and sustainable diamonds. These diamonds are of the highest quality and you can be confident in your purchase of a De Beers diamond.

Is De Beers a mining company?

De Beers S.A., South African company that is the world's largest producer and distributor of diamonds. Through its many subsidiaries and brands, De Beers participates in most facets of the diamond industry, including mining, trading, and retail.

Is De Beer illegal US?

It is illegal in the United States (the world's largest market for gem diamonds) and has been under constant attack by the U.S. Justice Department.

Who is the biggest diamond dealer in the world?

Russia is the world's largest diamond supplier, as it accounted for one third or 31% of the global diamond production in 2020.

Why did De Beers lose their monopoly?

Realizing their loss, De Beers decided to focus less on the control of the market, but more on their brand and retail stores. This ended their monopoly status of the diamond market, going from 80% stake to closer to 35%.

Why are they called blood diamonds?

blood diamond, also called conflict diamond, as defined by the United Nations (UN), any diamond that is mined in areas controlled by forces opposed to the legitimate, internationally recognized government of a country and that is sold to fund military action against that government.

Is Tiffany an ethical company?

As global leaders in sustainable luxury, Tiffany & Co. is committed to sourcing natural and precious materials in an ethical and sustainable manner. We have a zero-tolerance policy toward conflict diamonds, and source our diamonds only from known sources and countries that are participants in the Kimberley Process.

Is Kate Spade ethically sourced?

None of its supply chain is certified by labour standards which ensure worker health and safety, living wages or other labour rights. It received a score of 21-30% in the 2022 Fashion Transparency Index. There is no evidence it implements practices to support diversity and inclusion in its supply chain.

What is the most ethical jewelry?