The Welry Conflict-Free Diamond Policy
Welry, along with the global diamond industry, has a zero-tolerance policy toward conflict diamonds. Through measures such as the Kimberley Process, which tracks diamonds from mine to market, the industry in partnership with the United Nations, governments, and non-governmental organizations, polices diamond exports to prevent the trade of illegal diamonds.
At Welry, we only purchase diamonds through the largest and most respected suppliers who, like us, proudly adhere to and enforce the standards established by the Kimberley Process. All Welry diamonds are warranted to be conflict free. If one of our suppliers were ever found to be in violation of that process, we would immediately sever that relationship. We will continue to support and promote any process that works to uphold legitimacy in the diamond trade.
Diamonds are mined throughout the world, including major mines in Australia, Africa, Russia and Canada. Diamonds are a major source of good in many African nations, employing and providing healthcare to thousands. For more information on this issue, please visit DiamondFacts.org.
About The Kimberley Process
Welry supports the Kimberley process, which is an International process to track and certify diamonds. In April 2003, the U.S. Congress and President Bush passed a law adopting the Kimberley Process that requires all US diamond retailers to buy diamonds from manufacturers who have documentation warranting that the merchandise was obtained through legitimate channels. Today, the US Customs Service actively enforces the Kimberley Process requirements as diamonds enter American ports.
Concerning Zimbabwe Diamonds
Welry is committed to ensuring that the highest ethical standards are observed when sourcing our diamonds and jewelry. Because of the reported human rights abuses in Zimbabwe’s Marange diamond district, Welry will not purchase or offer diamonds from that area. As a responsible member of the diamond and jewelry industry, we are working with our suppliers to ensure our consumers receive only the finest goods procured from ethical sources.
The Welry Position on Responsible Mining
Across our business, Welry observes the highest ethical standards. We insist our business partners do the same. This extends to our gold sourcing. The issue of responsible mining is an important one and deserves our attention.
Conflict-Free Metals Policy
On August 22, 2012, the US Securities and Exchange Commission (SEC) released the final rule for Section 1502 on Conflict Minerals in the Dodd-Frank Act.
Welry fully supports the SEC’s final rulings and supplies gold raw materials, components and finished goods which are fully compliant with SEC guidelines.
We remain committed and focused on our leadership role in working with stakeholders and industry peers to develop sustainable, practical solutions that create transparency in the supply chain and promote responsible sourcing of minerals. Welry chain-of-custody process will be the continued basis of our sustainability and accountability efforts and programs.
In support of our responsible sourcing policy, Welry, will:
• Only accept gold from refiners on the LBMA good delivery list, EICC/GeSI conflict-free compliant smelter list, certified members of the Responsible Jewelry Council or refiners which certify and independently audit that all gold supplies are conflict free, in accordance with one of the following standards: RJC chain of custody standard, OECD Responsible Supply Chain of Minerals from Conflict-Affected and High Risk Areas Supplement or the World Gold Council Conflict-Free Standard.
• Only accept gold from Banks which certify and independently audit that all gold is supplied from Refineries which adhere to the refinery compliance requirements listed above.
• Only accept gold from Precious Metals Trading Companies which certify and independently audit that all gold from Refineries and / or Banks which adhere to the Refinery and Bank compliance requirements listed above.
• Only accept scrap and / or recycled gold from customers or suppliers which certify and independently audit that all scrap and recycled gold is identifiable as its own production and supply, i.e. scrap gold is returned product from customers, faulty inventory or scrap generated during the production process.
Certified Members Responsible Jewelry Council Members of Manufactures Jewelers Silversmith Association Supporters of International Precious Metals Institute ISO14001:2004 Environmental Management Certification Collaboration with SCS for compliance guidelines for jewelry industry Managers of the Richline Group Ethical and Compliant Sourcing Initiative