Diamonds https://www.youtube.com/watch?v=FbT_b0obeg8 – Skip 4:20-5:20 http://time.com/blood-diamonds/ - Overview of recent Blood Diamond developments.

History First used and mind 2500 years ago Was a symbol of wealth and nobility Originally a rare engagement present Mary of Burgundy - first known recipient of a diamond engagement ring in 1477.

Diamond Mining Africa controls 65% of the Worlds diamonds. South Africa Namibia Botswana Republic of Congo Sierra Leone

The Diamond Industry Largely Monopolized De Beers 60% market share Centered in Johannesburg, South Africa Uses strict supply controls “sightholders” Questioned social and environmental policies Indicted and fined $10 million in U.S. antitrust suit $81.4 billion/year industry as of 2014

De Beers Advertising Campaign “A diamond is forever” Manipulating demand through cultural means

Blood Diamonds

Blood Diamonds What are blood diamonds? Also called “Conflict Diamonds,” Blood diamonds are “diamonds that originate from areas controlled by forces or factions opposed to legitimate and internationally recognized governments, and are used to fund military action in opposition to those governments, or in contravention of the decisions of the Security Council” ~United Nations General Assembly December 1, 2001

Large Amount of Wealth in Small Size Blood Diamonds Why the diamond is such an easily traded commodity? Large Amount of Wealth in Small Size Form of Currency

Blood Diamonds Where does the Blood Diamond Trade occur? Botswana South Africa Namibia Angola Sierra Leone Nigeria

Blood Diamonds How countries like Nigeria and Sierra Leone are affected: Rebel Forces Use Diamonds to Finance Arms Purchases

Blood Diamonds How countries like Nigeria and Sierra Leone are affected: This seventeen-year-old lost both hands to rebelsﾕ machetes.

Blood Diamonds What is being done to curb the trade of these diamonds? Kimberley Process Fully Implemented in August 2003 after 52 nations Ratified Certification System for rough diamonds Also established national import and Export Standards

Kimberley Process Before 2003, it was estimated that 25% of the worlds diamonds were conflict diamonds. -After 2003, its estimated to be 5-10%. Central African Republic: Diamonds banned -in 2014 it is estimated rebel groups received 3.8-5.8 million from the sale of illicit diamonds.