In 2008, Venezuela left the Kimberley Process which is meant to police the mining and sale of conflict diamonds throughout the world. This was due to a push internally to overhaul the countries mining legislation and also in observance that Venezuela only exports a mere 3,000 karats of diamonds a year at the time. Since leaving the Kimberley Process Venezuela has made progressive legislation regarding its mining operations both for a private company or state-owned businesses. Now as reported by local news El Nacional, the South American country seeks to re-enter the Kimberley Process since they are compliant with the rules and guidelines of the organization.
The current chairman of the Kimberley Process, David Osio has stated that he believes Venezuela will be re-admitted as a full member of the organization before the end of his tenure as President. Furthermore, it is widely believed that Venezuela has big plans for its diamond mining sector with Jose Khan indicating that they expect to expand industrial and commercial mining operations of diamonds in the country. This bodes well for Venezuela as they have always been a resource rich country in diamonds, oil, and other materials. The tapping of such resources only benefits the Venezuelan people. The process officially began last Tuesday, May 24th where Jose Khan indicated the countries intentions to rejoin the Kimberley Process.