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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Diamond rules published
Periodical:West Africa
Geographic term:Sierra Leone
Subjects:diamond mining
economic law
Abstract:The Diamond Marketing Rules 1962 stipulate that Selection Trust will deposit all stones it produces at the Government Diamond Office in Freetown. The stones will then be sorted, cleaned, counted and weighed in the presence of a representative of the Government and the Company. The Company will make up individual parcels to be valued by the Government Valuer, but diamonds of more than 14.8 carats will be valued individually. The Company will then have to sell at least 50 per cent of the stones, as valued, to Diacorp, but it may sell the remaining 50 per cent to any licensed purchaser - as long as the value is at least equal to that decided by the Government Valuer, The Company shall pay to the Government Diamond Office a service fee of 5 per cent of the sale price of all diamonds.