Blood Diamond exposed to the movie-going masses the horrors of the diamond industry's operation in the West African country of Sierra Leone. Four West African countries, Angola, The Congo, Guinea and Sierra Leone, where the diamond trade is bloodiest, produce about 20% (PDF) of the world's rough diamonds. The growing global market for diamonds reached nearly $70 billion dollars in 2005 fueled largely by the insatiable appetite of US consumers who purchased $33 billion dollars in diamonds that year.
The movie has helped to bring energy and attention to reforming diamond operations with the goal of reinvesting more diamond money into the infrastructure and economies of these ruined nations. At the New York International Diamond Conference in February earlier this year an idea emerged to apply Fair Trade standards to the diamond industry in Africa as a first step toward reformation. During the conference Ed Zwick, producer of Blood Diamond, issued a passionate calling out of the diamond industry that inspired quick action.
The Rapaport Report, a leading diamond industry publication, wasted no time in working with the government of South Africa, the Fair Trade Labelling Organizations International and private diamond companies in bringing to market the first Fair Trade diamonds. The diamonds were on display last weekend at the Rapaport Fair Trade Conference held in Las Vegas.