Antwerp - The world diamond industry proposed strict measures yesterday to stop the flow of so-called "conflict diamonds" funding bloody African wars.
Industry groups proposed a system of international certificates and called for laws in countries exporting and importing diamonds to ensure penalties and bans on individuals who trade in conflict diamonds. The diamonds are estimated to account for about four per cent of the $6.8 billion of diamonds produced each year, feeding a retail industry worth more than $50 billion.
