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Rapaport Diamond Report

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The Rapaport Price List , informally known as the Rap List or Rap Sheet , is the diamond industry standard for the pricing of diamonds.

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49-519: The first Rapaport Price List was produced by Martin Rapaport , the Rapaport Diamonds Group founder, in 1978. The report is updated every week on Thursday, at 11:59pm EST. The Rapaport Price List is copyrighted and available only to subscribers. Jewelers and diamond merchants use it to set prices for consumers. Consumers should therefore use the report with caution. These prices are used as

98-580: A United Nations -diamond industry partnership aimed at ending conflict diamonds . He has also promoted the concept of "Fair Trade Diamonds," working to create mining collectives in Sierra Leone and advocating for better labor conditions and equitable distribution of profits. His publication of "Guilt Trip," was quoted in the United States Congressional Record : "Hundreds of millions of dollars of Sierra Leone diamonds are being traded on

147-476: A campaign on the role of banks in facilitating corruption. Its report, Undue Diligence , names some of the major banks that have done business with corrupt regimes. It argues that "by accepting these customers, banks are assisting those who are using state assets to enrich themselves or brutalise their own people" and that "this corruption denies the world's poorest people the chance to lift themselves out of poverty and leaves them dependent on aid." Global Witness

196-457: A context of conflict contribute to, benefit from or result in the commission of serious violations of human rights, violations of international humanitarian law or violations amounting to crimes under international law." Global Witness has produced reports on how timber helped to fund the civil war in Liberia and also looked at timber smuggling from Burma into China. In 2010, Global Witness launched

245-650: A court case in France against DLH, a company that they allege bought timber from Liberian companies during the civil war between 2001 and 2003, thereby providing support to Charles Taylor's regime. Global Witness describes forests as the "last bastion against climate change", with deforestation accounting for 18 percent of total global carbon dioxide emissions. On UN efforts to broker a deal on " Reducing emissions from deforestation and forest degradation " (REDD) Global Witness said: "REDD carries considerable risks for forests and local communities and will only succeed if civil society

294-564: A diamond commodity market through the New York Commodities Exchange failed, a result he attributed to the diamond industry's resistance to price transparency. In the early 2000s, Rapaport turned his attention to ethical issues within the diamond industry. He traveled extensively to Sierra Leone to investigate the diamond market, leading to his advocacy for the Kimberley Process Certification Scheme,

343-538: A different carat size for diamonds. Each grid has the clarity options on the horizontal line and the color options on the vertical line. In order to calculate the price of a diamond according to the Rapaport Price List, you need to know the size, color and clarity of the diamond. The price listed based on this information is in hundreds of dollars per carat. Martin Rapaport Martin Rapaport

392-459: A report that detailed discrepancies of up to 26 percent between the production figures published by the Sudanese government and those published by the main oil company operating in the region, CNPC. A peace deal between the north and the south was predicated on an agreement to share the revenues from oil. In June 2010, Global Witness criticized Zimbabwe for large-scale human rights abuses committed in

441-532: A vocal critic of De Beers , accusing the company of manipulating diamond prices. Rapaport submitted papers in 2002 and in 2005 criticizing the European Commission 's handling of investigations of collusion between De Beers and Russia's state-owned diamond cartel, ALROSA . He alleged the European body ignored evidence that ALROSA was selling diamonds to De Beers at prices 8 to 20 percent below market value and

490-474: Is engaged as an independent watchdog to ensure that the money is used in accordance with national laws and international guidelines." Global Witness criticized the World Bank –endorsed approach of encouraging industrial export-based logging as a means to economic growth in developing countries, which, it argues, has been repeatedly shown to fail. Instead, Global Witness advocates management strategies that benefit

539-687: Is intended to shape global policy and change international thinking about the extraction and trading of natural resources and the impacts that corrupt and unsustainable exploitation can have upon development , human rights and geopolitical and economic stability . Global Witness has worked on diamonds, oil, timber, cocoa, gas, gold and other minerals. It has undertaken investigations and case studies in Cambodia , Angola , Liberia , DR Congo , Equatorial Guinea , Kazakhstan , Burma , Indonesia , Zimbabwe , Turkmenistan and Ivory Coast . It has also helped to set up international initiatives such as

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588-899: Is on the Coordinating Committee of Taskforce on Financial Integrity and Economic Development , and is a member of BankTrack, and the UNCAC Coalition of Civil Society Organisations . In May 2009, Global Witness employee, Anthea Lawson, testified before the U.S. House Financial Services Committee on "Capital Loss, Corruption and the Role of Western Financial Institutions". In a letter to The Guardian dated 9 February 2010, Ms Lawson accused UK banks of "demonstrated complicity" in corruption. Global Witness has campaigned for transparency in Sudan's oil industry. Global Witness published Fuelling Mistrust in June 2009,

637-675: Is the Open Society Institute , which also funds Human Rights Watch . Global Witness also receives money from the Norwegian and British governments, the Adessium Foundation , and Oxfam Novib. In the UK, Global Witness Trust is a registered charity supporting the work of Global Witness. In an interview in The Guardian in 2007, Patrick Alley, one of the founding directors, rejected

686-818: Is the chairman of the Rapaport Group and founder of the Rapaport Diamond Report and RapNet, an online diamond trading network. Known for his influential role in the diamond industry, Rapaport has been both a pioneer and a controversial figure, advocating for price transparency, ethical sourcing, and the commoditization of diamonds. His work extends beyond market analysis to include contributions to addressing conflict diamonds, promoting Fair Trade practices, and engaging with non-governmental organizations on industry ethics. Martin Rapaport began his work as an apprentice diamond cutter in Antwerp , Belgium . In 1978, he created

735-992: The Extractive Industries Transparency Initiative , the Kimberley Process , and the Publish What You Pay coalition. (Global Witness withdrew from the Kimberley Process in 2011, saying it is no longer working. ) The organization's first campaign involved work against the trade of illegal timber between Cambodia and Thailand which was funding the Khmer Rouge guerrillas. Global Witness argues that natural resources can be, and have been, exploited to fund armies and militias who murder, rape, and commit other human rights abuses against civilians. It says that "natural resources can potentially be used to negotiate and maintain peace" and "could be

784-563: The Kimberley Process Certification Scheme (KCPS). The international governmental certification scheme was set up to stop to trade in blood diamonds, requiring governments to certify that shipments of rough diamonds are conflict-free. Like many other Sub-Saharan African (SSA) countries, Sierra Leone is endowed with oil and mineral resources amid social inequality, high prevalence of poverty, and conflict. Under rebel movements headed by Charles Taylor , who dominated

833-724: The World Federation of Diamond Bourses . The Kimberley Process (KP) in Sierra Leone was efficient in limiting the flow of conflict diamonds. More importantly, the KP assisted in restoring peace and security in the lives of these people, and, by creating stability in these environments, it spurred their development. It was successful at channelling larger amounts of diamonds into the international market, boosting government revenues, and consequently aiding in tackling development concerns. In 2006, an estimated US$ 125 m worth of diamonds were legally exported from Sierra Leone, compared to almost none in

882-756: The World Summit on Sustainable Development in Johannesburg in September 2002 and formally endorsed by the World Bank in December 2003. The EITI is a result of the efforts of the PWYP campaigners. It is now supported by a majority of the world's oil, mining and gas companies and institutional investors, in total worth US$ 8.3 trillion. Global Witness is a member of the EITI International Advisory Group and sits on

931-556: The 1990s. Despite its success, nine years later, on 5 December 2011, Global Witness announced that it has left the KP, stating that the scheme's main flaws have not been mended as governments no longer continue to show interest in reform. Global Witness campaigns for greater transparency in the oil, gas, and mining sectors. It is a founding member of the Publish What You Pay (PWYP) coalition, which advocates "the mandatory disclosure of company payments and government revenues from

980-714: The EITI board. Global Witness is active on a range of issues in the Democratic Republic of Congo (DRC). Their website section on DRC reads, "Politicians, military and militia groups have plundered the country's natural wealth and used it to enrich themselves at the detriment of the population." Global Witness has lobbied the UK government and the UN Security Council to stop the trade in minerals fuelling war in eastern Congo. Global Witness defines conflict resources as "natural resources whose systematic exploitation and trade in

1029-580: The Jewelers Vigilance Committee. Rapaport is known for influencing the diamond industry, with his publication of the Rapaport Diamond Report in the late 1970s becoming the de facto pricing baseline for wholesale polished diamonds. While some credit this guide with reducing diamond prices during the commodities boom of the 1970s, others have criticized it for attempting to commoditize diamonds. In 1982, Rapaport's efforts to create

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1078-755: The Marange diamond fields. It published a report Return of the Blood Diamond which criticised the Kimberley Process Certification Scheme for repeatedly failing to react effectively to the crisis in Zimbabwe. In July 2010 Tendai Midzi, writing in The Zimbabwe Guardian , accused Global Witness and Partnership Africa Canada of being "but a figment of the western governments they represent". Global Witness exposed corruption in land deals within

1127-455: The Philippines 67, and Thailand 16. Many of those facing threats are ordinary people opposing land grabs, mining operations and the industrial timber trade, often forced from their homes and severely threatened by environmental devastation. Others have been killed for protests over hydroelectric dams, pollution and wildlife conservation. By 2019, Global Witness were documenting 212 such deaths in

1176-528: The Rapaport Price List, which would later become a pivotal tool in the diamond industry. In 1980, he established RapNet, an electronic diamond trading network that further revolutionized the trade. Rapaport is an active member of several non-profit and diamond industry-related organizations, including the Jewelers for Children Charity Fund, the Diamond Manufacturers and Importers Association of America, and

1225-503: The administration of Taib Mahmud , the chief minister of the state of Sarawak in Malaysia through the video titled "Inside Malaysia's Shadow State." The video featured footage of conversations with relatives of Taib and their lawyer where Global Witness agents posed as potential investors. In 2019, Global Witness recorded the murders of 212 environmental activists, making it the worst year since this recording process began, in 2012. This

1274-462: The basis for standardization and negotiation of diamond prices around the world. Many of the agreed upon prices in diamond trade are come to from discounts based on the Rapaport Price List. The report is issued in the form of a table and prices diamonds based on their size , color and clarity . The report provides prices for individual diamonds and not diamonds sold in bulk. Each price list has four separate grids each one containing information for

1323-468: The claim that receiving money from governments could bias their campaigns: "Being campaign-led, rather than funding-led, means that our independence is never comprised," he argued. "The Department for Trade and Industry did once ask if we'd like to sign a confidentiality clause. We said we wouldn't take the funding under those conditions. No other government has ever tried to impose any restrictions." From December 2008 to November 2009 Global Witness's income

1372-488: The commoditization of diamonds. He argues that diamonds should be treated as a commodity, subject to the same laws of supply and demand as any other product, challenging the notion that diamonds are unique and should be valued individually based on specific characteristics. He has also been a proponent of viewing diamonds as an investment, emphasizing their durability and the increasing global wealth that drives demand for large stones. Throughout his career, Rapaport has been

1421-440: The communities that are dependent on forests, their home countries, the environment, and treats forests as an "international asset". Global Witness campaigns against anonymous companies and for registers of beneficial ownership . Anonymous companies are a legal business practice but can be used for purposes such as laundering money from criminal activity, financing terrorism, or evading taxes . In 2009 Global Witness launched

1470-733: The control of the African working class itself. Africa is the richest continent on earth. Africans don't need charity; they need control over their own land." [REDACTED] Media related to Martin Rapaport at Wikimedia Commons Global Witness Global Witness is an international NGO established on November 15 1993 that works to break the links between natural resource exploitation, conflict, poverty , corruption , and human rights abuses worldwide. The organisation has offices in London and Washington, D.C. Global Witness states that it does not have any political affiliation. Mike Davis has been

1519-514: The diamond industry, diamonds were being traded for guns with the Revolutionary United Front (RUF). This rebel group alone earned as much as US$ 125 m. In 1998, Global Witness stated that diamonds were spurring those conflicts. Backed by investigation done by the UN in 2000, it was then verified that the gems were being smuggled out of eastern Sierra Leone through Liberia, and subsequently into

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1568-605: The diamond sector. Criticism of Rapaport's efforts extends beyond industry insiders to activist groups like the African People's Solidarity Committee , who protested at the 2007 Rapaport International Diamond Conference in New York . They argued that "all diamonds are blood diamonds" and dismissed his efforts to support artisanal miners: "The African People's Solidarity Committee rejects this public relations ploy. They are calling for nothing less than all of Africa's resources under

1617-455: The establishment of "development diamond" labels. Rapaport, in cooperation with the U.S. Agency for International Development and Global Witness, invested $ 60,000 of his own money to create four alluvial mining cooperatives in Sierra Leone, but ultimately sees " Fair-Trade " diamonds as the solution to West Africa's woes. Martin Rapaport has been a controversial figure in the diamond industry, particularly for his outspoken views on pricing and

1666-652: The establishment of an international diamond certification scheme in January 2003. The certification system on the export and import of diamonds, known as the KCPS, was called by the resolution, imposing legislation in all countries to accept shipment of only officially sealed packages of diamonds accompanied by a KP certificate guaranteeing that they were conflict-free. Anyone found trafficking conflict diamonds will be indicted of criminal charges, while bans were to be imposed on individuals found trading those stones from diamond bourses under

1715-484: The industry has also sparked controversy, particularly regarding his commercial price guides, which some see as a step toward the commoditization of diamonds. His outspoken views on issues such as conflict diamonds , synthetic diamonds , diamond treatments , and Fair-Trade diamonds have been contentious, with critics suggesting that his statements have had an impact on industry practices. Rapaport has also been seen as an unlikely ally to Non-Governmental Organizations in

1764-547: The international market. Sanctions were later imposed by the UN on Liberian diamonds in March 2001. On July 19, 2000, the World Diamond Congress adopted at Antwerp a resolution to reinforce the diamond industry's ability to block sales of conflict diamonds. Thereafter, with growing international pressure from Global Witness and other NGOs, meetings were hosted with diamond-producing countries over three years, concluding in

1813-414: The involvement of specific individuals and business entities in activities such as illegal and unsustainable forest exploitation, and corruption in oil, gas and mining industries. Global Witness' methodology combines investigative research, publishing reports and conducting advocacy campaigns. Reports are disseminated to governments , intergovernmental organizations , civil society and the media . This

1862-617: The key to ending Africa's poverty". The organisation campaigns to protect human rights defenders targeted because of their work to prevent natural resource exploitation. An investigation by Global Witness in April 2014 revealed there were nearly three times as many environmental defenders killed in 2012 than 10 years previously. Global Witness documented 147 deaths in 2012, compared to 51 in 2002. In Brazil, 448 activists defending natural resources were killed between 2002 and 2013, in Honduras 109, Peru 58,

1911-483: The methodology used to determine these prices is flawed or arbitrary. The Rapaport Diamond Corporation has also been criticized for publishing wholesale price guides for diamonds whilst allegedly trading diamonds directly to consumers. Some have gone further, accusing Rapaport of holding a monopoly on diamond grading through his association with the Gemological Institute of America . Rapaport's influence in

1960-464: The oil, gas, and mining sector". Over 300 civil society groups worldwide are member of PWYP. Other PWYP founders include CAFOD, Oxfam , Save the Children UK, Transparency International UK, and George Soros , Chairman of the Open Society Institute . Global Witness helped establish the Extractive Industries Transparency Initiative (EITI), which was announced by then UK Prime Minister Tony Blair at

2009-422: The organisation's CEO since 2020. Global Witness states that its goals are to expose the corrupt exploitation of natural resources and international trade systems, to drive campaigns that end impunity , resource linked conflict, and human rights and environmental abuses. The organisation explores how diamonds and other natural resources can fund conflict or fuel corruption. It carries out investigations into

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2058-528: The trade was "monopolised by two prominent Cambodian senators with close ties to Prime Minister Hun Sen". In 1998 Global Witness released the report, A Rough Trade: The Role of Companies and Governments in the Angolan Conflict , describing the role of the international diamond trade in funding the Angolan Civil War . As part of its campaign against conflict diamonds, Global Witness helped establish

2107-606: The war going... The real challenge facing Sierra Leone and the world diamond trade, is how to stop this horrific murderous cycle of illegal diamond activity." Rapaport continues to address ethical issues within the industry through his annual International Diamond Conference, where he brings together non-governmental organizations like Global Witness and Amnesty International to meet with diamond industry leaders. His work has also included efforts to support artisanal diggers in West Africa, offering them fair prices and advocating for

2156-438: The world markets without any benefit going to the government or people of Sierra Leone. The real problem facing Sierra Leone is not merely how to share diamond resources among warring factions, but how to stop the illegal diamond industry from stealing the country's resources. But it goes beyond that. The bastards are not just stealing Sierra Leone's diamonds, they are trading them for guns. Guns which are used to kill people to keep

2205-513: The year. Global Witness's first campaign was in Cambodia in the 1990s where the Khmer Rouge was smuggling timber into Thailand. The Observer newspaper attributed the cessation to Global Witness's "detailed and accurate reporting". After a report implicating relatives of Prime Minister Hun Sen and other senior government officials, the prime minister's brother, Hun Neng, a provincial governor,

2254-469: Was aiding and abetting unethical and illegal business practices. He has also criticized the creation and sale of synthetic diamonds, while acknowledging that they are another commodity that can be sold for whatever value the marketplace deems they are worth. However, he believes that consumers would desire a disclosure that a diamond they are buying is either lab-grown or mined. Critics have accused Rapaport of setting diamond prices too low, arguing that

2303-413: Was quoted in a Cambodian newspaper as saying if anyone from Global Witness returned to Cambodia, he would "hit them until their heads are broken." In 2009, Global Witness released Country for Sale , a report on corruption in the allocation of Cambodia's natural resource licenses. In 2010 the report, Shifting Sand , was published. It examined sand dredging for export to Singapore. The report claimed that

2352-479: Was up from the number of 197 killed in 2018. 2020 saw a further rise in cases, with 227 killed. Global Witness and Partnership Africa Canada were jointly nominated by U.S. House of Representatives and Senate members for the 2003 Nobel Peace Prize for work on links between conflict and diamonds in several African countries. The majority of Global Witness funding comes from grants made by foundations , governments, and charities . One of their main benefactors

2401-461: Was £3,831,831. Of this, approximately 61 percent came in the form of grants from private trusts and foundations, 33 percent from governments, three percent from multi-lateral and non governmental organisations, and three percent from bank interest and other sources. Global Witness says it spends 75 percent of its funds on campaigns, seven percent on communication and fundraising, and 18 percent on support and governance. GW's annual report for 2021 showed

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