Diamond Video Challenge Rapaport

Sierra Leone

Diamond Video Challenge Rapaport

November 7, 2017, New York… The Rapaport Group is offering a first prize of $5,000 for the best diamond video promoting the Peace Diamond® and the brand concept “Diamonds That Make the World a Better Place” ®. The video must be under 2.5 minutes and focus on the role that diamonds can play in improving the lives of artisanal diggers. The deadline for video submissions is Nov. 20; votes will be accepted until Nov. 23 on the Peace Diamond Facebook Page, with the winner being the video that receives the most likes.

The big idea is to show the benefits that artisanal diamonds can bring to the world if they are sold through legitimate channels, with taxes paid and infrastructure improvements provided by the government. The 709-carat Sierra Leone Peace Diamond was discovered by impoverished diggers from the village of Koryardu. This village and the surrounding area have no clean water, electricity, schools, health facilities, roads or bridges. For the first time, millions of dollars from the sale of the Peace Diamond will go toward providing vital infrastructure and improving the lives of some of the poorest people in the world.

Participants in the Peace Diamond Video Challenge may register online at https://www.peacediamond.com/sign-up-for-the-challenge/, where additional information, terms and conditions, and media material — including videos, images, articles, stories, and information on how to make a submission — can be found. All the information on the website is available for download and use by the video creators. Participants are urged to view the five-minute Rapaport Peace Diamond Story Video on the website to get an understanding of the Peace Diamond Video opportunity: https://www.peacediamond.com/videos/.

“The winning video should create emotional value for Peace Diamonds that make the world a better place by helping artisanal diggers and the country from where the diamonds originate. We must fairly compensate the sources of artisanal diamonds to ensure that they are sold through legitimate channels. There is a reason G-d gave these diamonds to the poorest people in the world and made the richest desire them,” said Martin Rapaport, Chairman of the Rapaport Group.

Rapaport Media Contacts: media@diamonds.net
US: Sherri Hendricks +1-702-893-9400
International: Gabriella Laster +1-718-521-4976
Mumbai: Karishma Nagpal +91-98206-60574

About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the Group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet – the world’s largest diamond trading network, with over 15,000 members in 95 countries and daily listings of over 1.4 million carats valued at approximately $8 billion; Rapaport Laboratory Services, providing GIA and Rapaport gemological services in India, Israel and Belgium; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 500,000 carats of diamonds a year. Additional information is available at www.diamonds.net.


Sierra Leone to sell 709-carat diamond in Rapaport NY auction

Sierra Leone

Sierra Leone said on Tuesday it plans to auction off a massive 709-carat Peace Diamond at Rapaport December sale in New York, aiming to make a clean break with the “blood diamonds” of its past.

The stone, which was unearthed in March, is the largest discovered in Sierra Leone in almost a half-century and is between the 10th and 15th largest ever found worldwide, experts say.

Sierra Leone authorities told reporters that the massive gem will go up for sale on December 4 at Rapaport Auctions, which specialises in the diamond trade.

The government has pledged to be transparent in the stone’s sale, mindful of the history of cross-border diamond trafficking that fuelled Sierra Leone’s civil war from 1991-2002.

Such “blood diamonds” were often found by enslaved members of the population, who were killed or maimed by rebel groups if they refused to dig.

The 709-carat behemoth was discovered by Emmanuel Momoh, an Evangelical pastor who is also one of hundreds of so-called artisanal miners in Kono, Sierra Leone’s key mining district.

Momoh said he hoped the sale would “improve the lives of the people by providing water, electricity, schools, health facilities, roads and bridges” in the Kono region.

The state expects to collect 15 percent of the sale’s proceeds and a 30% income tax.

Sierra Leone had initially looked to sell the diamond at home but the best offer the country received was $7.7 million in April, which the government deemed insufficient.

It then decided to sell abroad. The rough stone was shown in Israel on Monday and Tuesday and will be on display in the Belgian city of Antwerp – one of the world capitals for diamond trading – from October 30 to November 10.

The diamond – known under its official name as the “diamond of peace” – will then be shown at the United Nations in New York, authorities said.

“We are grateful to the pastor for transferring the diamond to the government rather than smuggling it abroad,” presidency spokesman Abdulai Bayratay said.

Conflicts and controversy surrounding “blood diamonds” led the international community to enact a process known as “Kimberley” in 2003, which certifies diamonds as “conflict-free”.