INTERNATIONAL ROUGH AND POLISHED DIAMOND TRADER

Diarush DMCC (“Diarush”) is a specialist large-scale natural diamond (mined) rough trader. The company's main activity is sourcing rough for precise manufacturing assortments. It mainly targets manufacturers who have specialist polished programme requirements, and the emerging manufacturing sector.

Diarush's main strength is its technical know-how. The company possesses extensive technical knowledge of both mining productions across the globe, and the requirements and challenges of niche manufacturers. Through its technical savvy, Diarush is able to mix rough from different sources to create critical mass within each area and an optimised quality composition tailored to clients' requirements. 

Diarush has declared that it complies with: 

Responsible Jewellery Council (RJC) Code of Practices 

De Beers' Best Practice Principles Assurance Programme

Diarush is known for its ability to reliably deliver rough in the qualities and quantities requested by customers, on a long-term programme or adhoc basis.

Diarush management is committed to responsible and ethical business practices in all areas of the business. This is endorsed by senior management. This includes acting with integrity; demonstrating leadership; value addition; and a commitment to engaging in sustainable and ethical business practices.

Senior management has in place internal monitoring systems that include but are not limited to:

• Independent and unbiased financial accounting practices;
• A system of internal and external audits that ensure adherence to the Kimberley Process (“KP”)/World Diamond Council (“WDC”) System of Warranties; 
• Adherence to Best Practice Principles (“BPP”) guidelines as provided by De Beers Group of Companies; 
• Adherence to Responsible Jewellery Council’s (RJC) Code of practices (COP);
• Adherence to the Dubai Multi Commodities Centre (“DMCC”) Free Zone Rules and Regulations as provided by the Dubai Multi Commodities Centre Authority (“DMCCA”); 
• Adherence to contractual terms between stakeholders including employees, customers, suppliers, banks.

Management is committed to reviewing business practices on an annual basis to ensure that responsible business practices remain core to the business. This commitment is to be communicated to all employees and made publicly available. 

Diarush regards all stakeholders as essential business partners. Management states that it will make continuous efforts to ensure the commitment of its business partners and other non-assessable entities to comply with RJC Code of Practices and BPP guidelines and a commitment to not commit material breaches of any RJC COPs & BPPs including:

• The use of child labour or forced labour;
• Trade in conflict diamonds;
• Trade in stolen goods;
• Non-disclosure of synthetics, treated diamonds or simulants;
• Money laundering or the financing of terrorism;
• Wilful or negligent acts or omissions resulting in serious injury or death;
• Abuse of human rights;
• Non-payment of minimum wages;
• Causing a significant adverse effect to the environment; or
• Otherwise bringing the industry into disrepute.

Management declares that all relevant information regarding the RJC COP and BPP requirements and practical implementation of the RJC COP & BPP requirements will be communicated to its business partners. A risk assessment has been introduced to evaluate potential reputation risks in relation to RJC COPs & BPPs.

Diarush principals, controlling shareholders and directors should demonstrate appropriate conduct at all times. Transactions or business dealings that would compromise the ethical conduct of any employees or management are prohibited. These include, but are not limited to:

• Trade that misrepresents the colour, clarity, cut, carat and provenance of a diamond;
• Trade in undeclared treated diamonds, simulants or synthetics;
• Purchase or sale of diamonds from conflict areas/areas that support or encourage human suffering;
• Practices that would result in a material conviction;
• Practices that would intentionally endanger or harm the health or welfare of individuals;
• Practices that that contravene international and national best practices and regulations with regards to the environment;
• Other activities that would be classified as illegal with regards to local, national and international law that would bring the diamond industry into disrepute.

We endeavour not to transact with any individuals/entities/organisations with which there is:

• Credible evidence of fraudulent or dishonest business practices;
• Reason to believe that the individual/entity/organisation is engaged in disreputable or illegal activities.

We have put in place Know Your Supplier (“KYS”) and Know Your Client (“KYC”) policies and procedures as well as other monitoring systems to support its commitment to ethical business practices.

Our management endeavours to promote a culture of integrity within the entire organisation. 

Our management endeavours to comply with national and local legislation in all forms of engagement. Where there are no relevant laws in place, the company is guided by, where appropriate, conventions and declarations of the United Nations (“UN”) and the International Labour Organisation (“ILO”). 

Our management endeavours to create an environment in which employees feel comfortable raising any concerns without fear of retaliation.

Diarush recognises the guiding principles of the UN Declaration of Human Rights along with national human rights laws. 

We recognise that every person is entitled to all the rights and freedoms set forth in the UN Declaration of Human Rights, without distinction of any kind, such as race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-governing or under any other limitation of sovereignty.

We are committed to avoid the denial of rights to employees based on their religious affiliation, nationality, origin, age, state of health including consequence of Covid-19 pandemic and family status.

We are committed to equal opportunities and to the human rights of all employees. This is emphasised, amongst others, through policies on “freedom of association/collective bargaining”, “employment” and “non-discrimination and disciplinary procedures”.

We endeavour to treat each person equally, with dignity and respect. Management encourages employees to bring any breach of human rights to their attention. 

Diarush recognises the guiding principles of the OECD (Organisation for Economic Co-operation and Development) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (the ‘OECD Guidance’). Our objective is to respect human rights to the Universal Declaration of Human Rights and International Labour Organisation Declaration on Fundamental Principles and Rights at Work; and avoid contributing to conflict through the mineral supply chain.

We have adopted a zero-tolerance policy towards Conflict diamonds. We source diamonds only through those suppliers who adhere strongly to and enforce Kimberley process standards. Our suppliers demonstrate a robust supply chain protocol for their diamonds and have the ability to track diamonds by origin. We have strong management system in place ensuring adherence to the policy, including identifying and assessing the risk in the supply chain and have implemented a robust strategy to respond to any such risks identified. If any suppliers were ever found violating the process, we would immediately sever that relationship. 

We at Diarush are fully committed to responsible sourcing of our diamonds and strongly encourage our suppliers around the world to implement the sourcing requirement as per Diarush sourcing policy. We continually strive to assure our customers, suppliers, employees, and other stakeholders that we respect human rights and assess our risks by identifying our suppliers through sourcing due diligence risk assessment.

We will continue to support and promote processes that help in highest standards in diamond trade. We strictly follow the guidelines laid out by OECD and fully comply with the World Diamond Council system of warranties. Diamond sourcing goes beyond just conflict, we go an extra mile to inculcate policies for a fair trade. 

What are Conflict Diamonds?

The United Nations defines conflict diamonds as "Diamonds that originate from areas controlled by forces or factions opposed to legitimate and internationally recognised governments, and are used to fund military action in opposition to those governments, or in contravention of the decisions of the Security Council."

Kimberley Process

To combat conflict diamonds and to standardise mining practices, the international community established a policy in 2000 which was a zero-tolerance policy against conflict diamonds and known as Kimberley process.

We support the Kimberley process, which is an international process to track diamonds. 

We only work with reputable suppliers who value conflict-free sourcing and ethical business practices.

The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas

The Due Diligence Guidance for minerals may be used by any company potentially sourcing any minerals or metals from conflict-affected and high-risk areas, and is intended to cultivate transparent, conflict-free supply chains and sustainable corporate engagement in the minerals sector.