Minister says South African diamond export duty may be lower

South African Minister of Minerals and Energy Lindiwe Hendricks expressed willingness to compromise on the export duty to be levied on rough diamonds under the Diamonds Amendment Bill

Post By : AFNS On 27 October 2005 12:00 AM
Companies from a cross-section of the diamond and gold jewellery business have come together to form the Council for Responsible Jewellery Practices (CRJP). This not-for-profit organization has 14 founding members from different parts of the supply chain, from mine to retail. Council members are committed to promoting responsible business practices in a transparent and accountable manner throughout the industry.$$ Council members believe that a coordinated worldwide approach to addressing ethical, social and environmental challenges will drive continuous improvement throughout the jewellery industry for the benefit of industry stakeholders everywhere. This, in turn, will maintain and promote consumer confidence in our industry. The Council will enable the industry to work together to improve standards and practices, and reduce duplication of efforts as a result.
Initiative to Boost Confidence :
The initiative is unique because it aims to cover ethical, social and environmental issues across every step of the diamond and gold jewellery supply chain, no matter how large or small the business, in all geographies.$$ Specifically the Council will endeavour to reinforce confidence in the diamond and gold supply chain by:$$ {[Developing a Responsible Practices Framework, in consultation with key stakeholder groups that will define the ethical, social and environmental standards to which all members commit to conduct their businesses.][Making it a condition of membership that members apply the Responsible Practices Framework through an implementation process that will include self - assessments, and that is evidenced through a system of independent third party monitoring.][Working with industry participants to advise on business responsibility issues as they arise and offering guidance on the use of the Responsible Practices Framework to implement responsible business practices.][Promoting awareness and understanding of key ethical, social and environmental business responsibility issues by working with all stakeholders including (but not limited to) industry participants, trade organizations, governments and civil society representatives.][Acting as an advocate for business responsibility within the industry and developing initiatives to address ethical, social and environmental challenges through publicly and privately financed projects.][Working with stakeholders and industry participants to continuously improve conformance with the standards and processes set out above and ensuring that they are relevant and achievable, while addressing key ethical, social and environmental challenges with due regard to the business objectives of the industry.$$ and privately financed projects.][Encouraging Members to promote the adoption of the Responsible Practices Framework amongst their business partners.][ Seeking to be inclusive and extending the membership opportunity throughout the industry.]}
Consultation Process :
The Council is starting a consultation process and will consult widely with stakeholders interested in ethical, social and environmental issues within the diamond and gold jewellery supply chain. Through a series of rolling consultation exercises, the Council will seek feedback on its activities, the draft Principles and the development of an implementation process. The Council will seek opportunities for creative partnership with society and government.

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