DIAMOND TRADE AND THE THIRD WORLD
Diamond mining is a significant source of foreign capital, salaries and tax revenue for a number of developing countries. The global diamond industry employs some 10 million people directly and indirectly worldwide. The vast majority of diamonds purchased in the West bring benefits to millions of poor residents from African countries including Namibia, South Africa and Botswana (diamonds represent 33% of the GDP of Botswana). The revenue is used in the development of infrastructure and essential social services of these developing nations.
The illicit trade in diamonds is a small fraction of the total (less than 1%). Charles Rose is proud to support the diamond industry and its overwhelmingly positive benefit to residents of the third world.
“For our people, every diamond purchase represents food on the table; better living conditions; better healthcare; safe drinking water; more roads to connect our remote communities and much more.”
– President Mogae of Botswana, June 7, 2006