Liberia is a country in West Africa founded by free people of color from the United States. The emigration of African Americans, both freeborn and recently emancipated, was funded and organized by the American Colonization Society (ACS). The mortality rate of these settlers was the highest among settlements reported with modern recordkeeping. Of the 4,571 emigrants who arrived in Liberia between 1820 and 1843, only 1,819 survived (39.8%).
The economy of Sierra Leone is $4.558 billion by gross domestic product as of 2024. Since the end of the Sierra Leone Civil War in 2002, the economy is gradually recovering with a gross domestic product growth rate between 4 and 7%. In 2008 it in PPP ranked between 147th by World Bank, and 153rd by CIA, largest in the world.
A commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodities market for centuries for price risk management.
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
Fair trade is a term for an arrangement designed to help producers in developing countries achieve sustainable and equitable trade relationships. The fair trade movement combines the payment of higher prices to exporters with improved social and environmental standards. The movement focuses in particular on commodities, or products that are typically exported from developing countries to developed countries but is also used in domestic markets, most notably for handicrafts, coffee, cocoa, wine, sugar, fruit, flowers and gold.
The De Beers Group is a South African-British corporation that specializes in the diamond industry, including mining, exploitation, retail, inscription, grading, trading and industrial diamond manufacturing. The company is active in open-pit, underground, large-scale alluvial and coastal mining. It operates in 35 countries with mining taking place in Botswana, Namibia, South Africa, and Canada. It also has an artisanal mining business, Gemfair, which operates in Sierra Leone.
Blood diamonds are diamonds mined in a war zone and sold to finance an insurgency, an invading army's war efforts, terrorism, or a warlord's activity. The term is used to highlight the negative consequences of the diamond trade in certain areas, or to label an individual diamond as having come from such an area. Diamonds mined during the 20th–21st century civil wars in Angola, Ivory Coast, Sierra Leone, Liberia, Guinea, and Guinea-Bissau have been given the label. The term conflict resource refers to analogous situations involving other natural resources. Blood diamonds can also be smuggled by organized crime syndicates so that they could be sold on the black market.
The Revolutionary United Front (RUF) was a rebel group that fought a failed eleven-year war in Sierra Leone, beginning in 1991 and ending in 2002. It later transformed into a political party, which still exists today. The three most senior surviving leaders, Issa Sesay, Morris Kallon, and Augustine Gbao, were convicted in February 2009 of war crimes and crimes against humanity.
The Sierra Leonean Civil War (1991–2002) was a civil war in Sierra Leone that began on 23 March 1991 when the Revolutionary United Front (RUF), with support from the special forces of Liberian dictator Charles Taylor's National Patriotic Front of Liberia (NPFL), intervened in Sierra Leone in an attempt to overthrow the Joseph Momoh government. The resulting civil war lasted almost 11 years, and had over 50,000, up to 70,000, casualties in total; an estimated 2.5 million people were displaced during the conflict.
Diamonds were largely inaccessible to investors until the recent advent of regulated commodities, due to a lack of price discovery and transparency. The characteristics of individual diamonds, especially the carat weight, color and clarity, have significant impact on values, but transactions were always private. With the standardized commodity as an underlying asset, several market traded financial instruments have been announced.
Alrosa is a Russian group of diamond mining companies that specialize in exploration, mining, manufacture, and sale of diamonds. The company leads the world in diamond mining by volume. Mining takes place in Western Yakutia, the Arkhangelsk region, and Africa. Alrosa is Russia's leading diamond mining and distribution company, accounting for 95% of Russian diamond production and 27% of global diamond extraction.
Ernest Bai Koroma is a Sierra Leonean politician who served as the fourth President of Sierra Leone from 17 September 2007 to 4 April 2018.
The Rapaport Price List, informally known as the Rap List or Rap Sheet, is the diamond industry standard for the pricing of diamonds.
The diamond industry of Israel is an important world player in producing cut diamonds for wholesale. In 2010, Israel became the chair of the Kimberley Process Certification Scheme. As of 2016, cut diamonds constituted 23.2% of Israel's total exports and they were the country's biggest export product, amounting to 12% of the world's production.
Diamond is a gemstone formed by cutting a raw diamond. Diamonds are one of the best-known and most sought-after gems, and they have been used as decorative items since ancient times.
Jamil Sahid Mohamed Khalil was a Sierra Leonean-Lebanese businessman, diamonds and commodities trader. He attained prominence in the diamond industry across Africa and Antwerp and became an influential figure in the politics of Sierra Leone through his close association with President Siaka Stevens. Jamil also came to dominate other business sectors including fisheries, tourism construction and aviation.
Child labour in the diamond industry is a widely reported and criticized issue on diamond industry for using child labour in diamond mines and polishing procedures in poor conditions mainly in India and Africa. In these mines, children come in contact with minerals, oil and machinery exhaust. In 1997, The International Confederation of Free Trade Unions claimed that child labour was prospering in the diamond industry in Western India, where the majority of the world's diamonds are cut and polished while workers are often paid only a fraction of 1% of the value of the stones they cut. It is argued that economic growth in Western India in the 1980s–90s was associated with an increase in the number of child workers who do simple, repetitive manual tasks that do not require long years of training or experience in low-paying hazardous working conditions that involve drudgery, and foreclose the option of school education for most of them.
Ruff&Cut is an American fine jewelry company founded by Wade Watson in 2008. The company sells ethically sourced jewelry items that contain conflict-free diamonds and gemstones and recycled metals.
The mining industry of Sierra Leone accounted for 4.5 percent of the country's GDP in 2007 and minerals made up 79 percent of total export revenue with diamonds accounting for 46 percent of export revenue in 2008. The main minerals mined in Sierra Leone are diamonds, rutile, bauxite, gold, iron and limonite.
The Sierra Leone Diamond is a 709-carat, alluvial diamond found in 2017 by workers hired by Pastor Emmanuel Momoh in river sediment in Koidu village, Kono district, Sierra Leone. It has since been renamed The Peace Diamond.
