Friday, December 4, 2009

How to Become a Diamond Dealer


Diamond dealers buy and sell diamonds for private clients or for a company. They are experts in evaluating diamonds and in locating the best diamonds at the lowest prices. Many diamond dealers work for retailers, wholesalers or diamond cutters. Diamond dealers do not own the diamonds they sell. Instead they are salespeople selling a valuable product. To become a well-regarded diamond dealer it is best to be trained by industry leaders and to acquire the credentials that label you a professional diamond dealer.
Step 1Take courses at the American Gem Society. The AGS is a not-for-profit trade association for those in the fine jewelry business. One course to take is Graduate Sales Associate, a home study course that teaches the student about diamonds, the industry and how to sell. According to the website, "Upon successful completion of a proctored final exam, the associate is awarded a Graduate Sales Associate Certificate from the Jewelers Education Foundation of the American Gem Society." Another course to consider is the Registered Jeweler. This course teaches you about diamonds, colored gemstone like rubies and sapphires and the ethical standards of the diamond industry.

Step 2Study to become a Graduate Gemologist, or GG. This title is offered by the Gemological Institute of America, a trade association. This GG designation is just one of several training programs the institute offers. While there are no requirements to become a diamond dealer, getting this credential will greatly improve your chances of getting a job as a diamond dealer. This course can be taken online or in a 26-week classroom program.

Step 3Continue your education. By increasing your knowledge and acquiring more recognized credentials you can secure a good position as a diamond dealer. You can become a Certified Gemologist Appraiser or CGA. This course of study is offered by the American Gem Society. The AGS website writes, "This title is the most highly regarded in the industry. Earning the CGA title requires more advanced training and experience in determining the value of gemstones and jewelry." This credential has other requirements to fulfill. A person has to be re-certified annually to maintain the CGA credential. Also you have to work in an AGS member firm.

Step 4Apply for sales jobs in the diamond industry. Once you have trained and gotten your credentials, you can start looking for a job. With a resume that details your training and experience you can start to look for jobs by contacting the member firms of the American Gem Society. These are all reputable jewelers, retail stores, wholesale companies, diamond cutters and diamond brokers. The AGS has an online directory of firms you can contact.

Step 5Use the career services at the Gemological Institute of America. The GIA provides graduates of its training programs career services to help them get jobs in the diamond industry. This is a good option if you have taken the Graduate Gemologist course.

Step 6Work in jewelry departments. If you don't have the credentials listed above, the best option is to get a sales job in the jewelry department of a department store. While working at this job you can take online or home study courses at the American Gem Society or the Gemological Institute.
By Sabrina Ashley
References
Gemological Institute of America
American Gem Society

Prices of Diamonds Graded by 3 Different Laboratories


Abstract

An analysis of trading prices showed that the trade adjusts prices based on expected strictness of diamond grading reports.

To confirm or deny the trades expectation of grading strictness, the authors conducted a small 17 diamond independent survey of GIA, AGS and EGL USA lab grading. The diamonds were anonymously submitted from three different sources.

In half the cases AGS clarity grading was one grade stricter than GIA. In two thirds of cases EGL USA color grading was one grade softer but clarity grading in a third of cases was stricter than GIA. Industry opinions were confirmed and by large each lab graded consistently to its own apparent standard, considering the high degree of human subjectivity involved.

In conclusion: The study confirmed that business to business Internet listings effectively priced diamonds graded by these laboratories

1. Introduction

Diamond prices are dramatically dependant on the 4C's (carat, color, clarity and cut); a difference of only one color or one clarity grade can result in price variations of 3% to more than 25%.

For many years, buyers and sellers determined diamond grades by themselves. But in the 1953 the Gemological Institute of America (GIA[4]) established a grading system for color and clarity and began using this system in its independent diamond grading laboratory. Today there are many large and small gemological labs world-wide that offer third party diamond grading services. Trade insiders believe that some labs are stricter and more consistent, while other labs are softer (i.e. give higher grades) or may be less consistent. Consequently it is believed the diamond trade adjusts diamond prices based on the lab that issued grading reports.

The only published source of price comparison the authors are aware of, between diamonds graded by different labs, is listed on Polishedprices.com:

Certificate Calculation factors according to Polishedprices.com
Certificate Factor
AGS 1.028
CGL 1.000
GIA 1.000
HRD 0.981
IGI 0.944
EGL 0.935
NONE 0.935


Today’s consumers are learning more about diamonds and pricing. Websites like Pricescope.com and others have contributed to the public's greater knowledge. Many have learned that diamonds graded by GIA-GTL or AGSL[5] are priced at premiums compared to diamonds with reports from other labs. The current study compares lab strictness but importantly, for the first time that the authors are aware of, this survey includes a pricing and value comparison.

The prices of a significant quantity of diamonds, more than 50,000, are publicly listed on-line and GIA, EGL USA[6], and AGS graded diamonds were represented in large enough quantities to be included in this study.

The reason for a grading lab to give softer grades is to get more business from diamond manufacturers, retailers or wholesalers who want to increase their profits by selling diamonds given higher grades at higher prices. However, EGL USA has claimed recently to have been grading stricter.

This survey is the first in a decade[7] that the authors are aware of, was not intended to prove that any lab is better than another. Diamond grading is a subjective art. The consumers should be aware that a grading report is that labs opinion, and not a fact. This was illustrated by the fact that none of the 17 stones were given the same grade for both color and clarity by all 3 labs. One of Pricescope's main intentions with this survey was to compare the relative trading values of diamonds graded by various labs.
2. Method of Survey

This survey was funded by Pricescope, including the expenses of two additional grading reports and shipping of the diamonds. None of the surveyed labs were made aware of the survey.

Three labs were surveyed:

GIA-GTL.
AGSL.
EGL USA.
These three labs were chosen because there are reasonable sized commercial data bases of pricing information to enable cost comparisons.

Pricescope approached three independent diamond vendors: DirtCheapDiamonds.com, EngagementRingsDirect.com and Whiteflash.com to provide diamonds from their inventories. These stones had already been graded by either GIA-GTL or AGSL and they were then sent to the two other grading laboratories. The vendors were aware of the purpose of this experiment and the need for secrecy. They knew that other vendors would be participating in this survey, but they were not informed of the identity of the other vendors.

In total 17 round brilliant cut diamonds were selected for the survey, but one was inadvertently sent to GIA-GTL twice (and received different clarity grades). They ranged from 0.6 -1.25 carat, E – J color and VVS2 – SI2 clarity ranges. The sizes and qualities were chosen to represent frequently traded range of diamonds. The vendors were asked not to deliberately select stones that they considered to be border line examples or stones that in their opinion had been "missgraded". See Appendixes I - V for all diamonds' details.

Each of the diamond vendors independently submitted their already lab graded diamonds to two additional grading labs. Namely:

DirtCheapDiamonds.com selected 6 diamonds (5 with AGSL and 1 with GIA-GTL reports) and submitted them to GIA and EGL USA
EngagementRingsDirect.com selected 4 diamonds with GIA-GTL reports and submitted them to AGSL and EGL USA
Whiteflash.com selected 7 diamonds with GIA-GTL reports and submitted them to AGSL and EGL USA.
All diamonds and all 3 grading reports were then shipped to David Atlas, GG, NGJA, ASG Accredited Gem Appraisers, Philadelphia, PA for additional professional evaluation and to review the grading results.
3. Summary of the results

Diamond grading is not a science; it is a subjective skill. As mentioned, none of the 17 diamonds in this survey was given the same grade for color and clarity by all three laboratories. Due to the subjectivity of human color and clarity grading, it is virtually impossible to say whether one or another grade is absolutely accurate. Instead we decided to consider whether two of the labs grades were stricter or softer compared to GIA-GTL grades. We made this decision because GIA-GTL is the largest lab and is considered as a market leader.

To underline the subjectivity of diamond grading it is worth noting that stone #10 already had a 6 month old GIA-GTL report, but was inadvertently resubmitted to GIA-GTL (it was to have been sent to for an AGSL report, which explains its absence). The color was given the same grade, but the clarity on the GIA-GTL report was VS1 on the earlier October 2003 report and VS2 on the April 2004 report. In discussions with the GIA about this particular stone they noted that in their private records on both occasions that it was a border line VS1 / VS2. The authors chose to include the stone at its softer GIA-GTL grading.
3.1. Relative comparison of the Clarity and Color grades

Table 1.a. Carat, color and clarity of the diamonds used in the survey

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No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Carat 0.74 0.78 1.08 1.11 0.62 0.60 0.62 0.62 0.71 0.70 0.79 0.71 0.75 1.13 1.02 1.23 0.70
Color
GIA F F H G I I G H H H E E H J E G H
AGS F F G G I H G H H n/a E E H I F G H
EGL E E G F H H F G G G E E G I F G H
Clarity
GIA SI1 VS2 SI2 SI2 VS1 VVS2 VS1 VS2 SI2 VS1 SI1 SI1 SI1 SI2 VVS2 VS1 VS2
AGS SI2 VS2 SI2 SI2 VS2 VVS2 VS2 SI1 SI2 n/a SI2 SI2 SI1 SI1 VS1 VS2 SI1
EGL SI1 VS2 SI2 SI2 VS1 VS1 VS2 VS2 SI2 VS2 SI1 SI2 SI1 SI1 VVS2 VS2 SI1

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Table 1.b. AGSL and EGL USA Grading Compared to GIA-GTL

--------------------------------------------------------------------------------

AGSL (out of 16) EGL USA (out of 17)
Clarity Stricter 9 (56%) 6 (35%)
Same 6 (38%) 10 (59%)
Softer 1 (6%) 1 (6%)
Color Stricter 1 (6%) 1 (6%)
Same 12 (75%) 4 (24%)
Softer 3 (19%) 12 (71%)

--------------------------------------------------------------------------------


Figure 1. Difference in Clarity Grades Compared to GIA-GTL. Below the line corresponds to softer grading (higher grade) and above the line is stricter grading (lower grade)

Figure 2. Difference in Color Grade Compared to GIA-GTL. Below the line correspond to softer grading (higher grade) and above the line is stricter grading (lower grade).


3.2. Cut Grades

Comparison of the contentious issue of cut grades was not possible, since GIA-GTL reports do not rate a diamonds proportion based cut quality. Under the heading ‘Proportions’ are depth percentage, which is the depth divided by average diameter and multiplied by 100, table size as a percentage of the average diameter, the girdle in descriptive wording and finally culet size description. A sub heading ‘Finish’ lists polish and symmetry. Both other labs give crown and pavilion information; AGSL gives both angle and percentage data and EGL USA gives crown height and depth percentages. GIA-GTL noted under comments any diamond with a crown angle greater than 35° or less than 30°.

The information provided by AGSL and EGL USA enables proportion grades to be checked with cut grading systems provided by the authors on www.pricescope.com/cutadviser.asp and www.gemappraisers.com.

3.2.1 Proportion Grading

AGSL has an optional report system for round diamonds that grades a diamonds cut against a comparatively tight set of proportions. The top grade is ‘zero’ and the worst grade is 10. AGS 0 has become synonymous with the term ‘Ideal Cut’ in North America (stones # 5 to # 10).

EGL USA produce optional reports with proportion based cut grade results (e.g. stone # 7 is called EGL IDEAL PLUS).

Researchers in the field of cut studies debate the use of parameter ranges for cut grading round diamonds. It would be fair to say that all three labs (and most others) are un-satisfied with the parametric based approach. GIA[1] and AGS[2] now recognize that diamonds with the steepest crown and deepest pavilion, within a cut grade category, are not as attractive as many diamonds of lower grades, with combinations of shallow crown and deep pavilion, or steep crown and shallow pavilion. The same is true for shallowest crown and pavilion combinations. The GIA is conducting a costly decade long cut study to establish a cut grading system. This has taken longer than planned. At the 2004 Basel GemFest GIA released information indicating that its new cut grade system will account for the above mentioned relationship between crown and pavilion angles.

3.2.2 Symmetry and Polish

Symmetry and polish were graded for all stones by all three labs. The table below describes the terminology used by each lab.

GIA-GTL AGSL EGL USA
Excellent Ideal Excellent
Very Good Very Good Very Good
Good Good Good
Fair Fair Fair
Poor Poor Poor

Generally the Polish and Symmetry grades of GIA-GTL and AGSL coincide with each other for Excellent/Ideal and Very Good and Good grades. All three labs gave similar grades for diamonds rated as Good. However EGL USA reported mostly Good or Very Good Polish and Symmetry for diamonds that were graded Excellent / Ideal by GIA-GTL and AGSL respectively
3.3. Clarity Plots and Comments

A comparison of the diamonds and the plots from all three labs showed that AGSL report plots had a consistency and greater degree of detail than the GIA-GTL reports. The plots of the EGL USA documents were close to the quality of AGSL and contained adequate detail. See Appendix V.

GIA-GTL made the most use of comments (12 clarity or surface feature comment on a total of 18 reports), followed by AGSL (10 such comments on 16 reports), however EGL USA made none. GIA-GTL’s stated practice is to plot only the marks that set the clarity grade, with others often being referred to in the comments section; this policy was reflected in the absence of a few inclusions which were reported in the comments section. GIA-GTL plotting was also somewhat less intensely drawn.

How to Grade Diamonds


There are few tasks more challenging than grading gemstones, diamonds in particular. The diamond industry is a close-knit society of dealers and appraisers. Between the two groups, a diamond's worth is almost always determined by a scale of quality and rarity. Following the steps below will give a diamond hunter a good start on the road to grading a diamond.

Step 1Understand what a carat is. A carat is a simple scale given to diamonds that assesses its weight. Typically, a 1.00-carat diamond weighs in at 0.2 grams. The more carats a diamond possesses, the higher in value it becomes.

Step 2Inspect the cut of the diamond. A diamond's cut is the way a diamond cutter has actually turned a rough stone into a brilliant diamond. A brilliantly cut diamond will sparkle brightly and transfer colors from one angled cut to the next to create a fire-like appearance.

Step 3Identify the color of a diamond. A diamond's color is crucial to its value. Colorless stones are very rare and are graded in the "D" category. Other categories include diamonds in varying colors such as green, blue and yellow. These are called fancies and are extremely rare and expensive, with red being the most prized.

Step 4Search for inclusions in the diamond. Inclusions are often referred to as nature's fingerprints. These are deposits in the stone that affect its ability to transfer color from one facet to another. The more inclusions a diamond has, the lower it is graded.

Tips & Warnings
Take a magnifying glass to inspect each stone more closely. The jeweler may be able to provide one in store.Pass a light through the diamond while grading to better identify inclusions.Grade diamonds according

How to Determine The Purity of Gold


It is always good to have some knowledge of purity of gold if you are a gold buyer or seller. In this article, you will be told how to determine the purity of gold. After reading this article, you will be able to determine whether gold is pure or not. Just follow these easy steps and you will get the result. You will need a touchstone, testing solution and gold test needles to do it. So here we go!

Step 1 Check for identification marks:
Look at the gold item for some identification marks like 10k, 14k, 18k and 24k. Test needle and test solution will vary according to carats. If you identify carats, you will have the best results.

Step 2 Touchstone and test needle:
Pick up the test needle and touchstone. I you want to test an 18k gold item, you will choose 18k test needle too.

Step 3 Scratch the touchstone with test needle:
It should be a firm scratch. It should not be across the entire surface as you will need to buy another touchstone if it is. Just a firm scratch it should be.

Step 4 Scratch the touchstone with gold item:
Make another scratch next to that one you made before with needle. But this time you will make the scratch with to gold item you want to test. So you have two scratches located side-by-side on the surface of touchstone.

Step 5 Acid solution:
Use the acid solution of 18k if your test needle is of 18k. Use that of 24k for a 24k test needle. Drop 1-2 drops of the solution on the scratches you made before.

Step 6 Analysis of result:
Finally, analyze you results. The color of the two scratches will be the same if your gold is pure. If the colors do not match, then repeat the process with different needles and solutions.
By mbastudent

Thursday, December 3, 2009

Seven mines in five years expected to open in Greenland



Greenland will open seven mines in the next five years, boosting the traditional hunting and fishing sectors, which are threatened by global warming, a senior minister said.
Aleqa Hammond, minister of finance and foreign affairs, told Reuters that the new projects include a gold mine, diamonds, zinc and lead, and an aluminum smelter,
"The zinc and lead (mines) will be opening in October," she said. Construction of the aluminum smelter should be complete by 2014.
Greenland is a self-governing province of Denmark. It has been mining gold and olivine since 2005 and 2006, respectively.
Eight of the world's largest oil companies are already exploring the country's western coast. "We know there is oil in Greenland. You can touch it coming out of the mountain," Hammond said, noting that production dates would depend on the explorers' success.
Boosting the oil and minerals sector would mean increased pollution risks as well as the possible inundation by foreigners of Greenland's 56,000 population.
Greenland also needs to adapt to the loss of livelihoods caused by rising sea temperatures and melting ice, she said. "Our whales are migrating different, our birds are migrating different, the salmon are in a different place - our hunters are having difficulty," she said. "We can no longer count on quotas for our fisheries. It is important for us to adapt," she said. Melting ice means that polar bears - who need the ice to hunt seals - must travel farther to look for food, traveling all over Greenland. To reduce their reliance on oil, Greenland is also seeking to boost its hydroenergy, Hammond said. Following on from the recent diamondiferous finds in the North Western Territories, emphasis has moved to the southern parts of Greenland, where Archaean craton is known to exist. Nearly all of the world’s diamondiferous pipes are located on or close to the edges of Archaean cratons. Consequently, most of the craton has been covered by licenses exploring specifically for diamonds.
Diamond exploration in Greenland is on the rise again, and in 2003 two Canadian companies carried out renewed exploration. Navigator Exploration Corp., which has an exploration licence 130 km north of Nuuk, not far from Maniitsoq, carried out follow-up work on an already known deposit of ultramafic breccia in 2003. Samples of this breccia are awaiting the result of an analytical programme. Earlier drillings at the site carried out in connection with nickel exploration confirmed that the breccia is also found at deeper levels. Laboratory studies and new drillings may elucidate whether this is Greenland's first diatreme (pipe) of kimberlite.
Analyses of indicator minerals from the area around Maniitsoq show that they originate from a kimberlitic source that had the right conditions for being diamondiferous.Hudson Resources Inc. concentrated its field work around the search for sites in the Sarfartoq area south of Kangerlussuaq where known kimberlitic deposits coincided with interesting geological structures and positive indicator minerals.
Results form the study showed that three of the samples contained a total of 20 microdiamonds.The company also funded a study of the geothermal gradient of the subsurface.This showed that the conditions that existed at the formation of the diamonds were just as favourable as in Canada where there are two active diamond mines.
During the summer of 2003, BMP and GEUS carried out a field programme in West Greenland.The fieldwork consisted of collecting of 'bulk' samples and geophysical and geological mapping of several diamondiferous kimberlitic rocks. The 'bulk' sample is much larger than the samples normally collected.Three large samples of a total weight of about 3 tonnes were removed. A total of 128 diamonds were found in the three samples.All the diamonds were less than 1 mm, but they were of good quality and state of preservation.

The diamond sparkle in Greenland's melting ice

Helicopters have been hard to hire in Greenland this northern summer. The reason? Diamonds.
As the ice cap recedes because of rising temperatures, rock covered for centuries could produce spectacular finds. The interest was sparked partly by the recent discovery of a 2.4-carat diamond at Garnet Lake, in west Greenland, the largest of 236 diamonds found in a trial dig in the area by Hudson Resources, of Vancouver.
The belief in Greenland's potential riches stems from its geology, identical to that found across the now ice-free North-West Passage in Canada.
But Greenland has other potential riches too. Gold has been discovered and is already being mined, although so far at a loss.
There are also deposits of other minerals, such as zinc. Oil companies are negotiating licences to explore blocks of the coastline. The dash for minerals is fuelling another debate in Greenland: whether the country should seek independence from Denmark.
With its 56,000 people scattered over an area almost the size of Europe, Greenland depends heavily on a subsidy from Denmark for survival.
The island has internal self-government but Denmark is responsible for foreign policy.
Aleqa Hammond, the Foreign Minister in Greenland's home-rule Government, hopes that the oil and mineral companies will create sufficient wealth for a break from colonial rule.
"It is natural for a country to want to be independent," she said. "We do not feel ourselves part of Europe — we are an Arctic people. But our way of life is changing and we have to change with it."
But some argue that independence has dangers. Greenland is the land mass closest to the North Pole, and has rapidly assumed greater strategic importance as its powerful neighbours vie for a slice of the Arctic's supposed mineral wealth.
The United States is strengthening its air base at Thule, on the extreme north of the island, and the Russians have already planted flags on the sea bed.
But Mrs Hammond believes the best prospect of buying its independence lies in hydro-electricity. The vast lakes and melting ice cap provide enormous potential for electricity free from fossil fuel.
But Professor Minik Rosing, of the University of Copenhagen, who was born in Greenland, is wary. A major mineral find could be catastrophic, he said. "With such a small population we could be overwhelmed by people coming to work here."
Paul Brown Nuuk, Greenland
October 8, 2007

GUARDIAN

BRAZILIAN DIAMONDS


When diamonds were discovered by alluvial gold miners in Brazil in 1725, Indian diamond sources were near exhaustion and European demand for the stone continued unabated. From 1730 to 1870 Brazil was the world's major source of diamonds. Indeed, mining in Brazil was so active that by the late 1730s production far exceeded demand, and diamond prices fell by as much as 70%. Beginning in 1850, production rose again, following the discovery of rich deposits in Bahia, but after 1861 it rapidly declined as deposits were depleted, leading to a great shortage of rough diamonds in the European cutting centers in the late 1860s.

Productive Brazilian diamond deposits are all secondary. They are usually small, and some are of low grade, so mines typically operate for short periods. Primary diamond pipes exist but are generally uneconomic, suggesting that erosion has stripped away the richest portions from them. In 1890 and 1901, secondary diamond deposits were discovered in Guyana and eastern Venezuela, adjacent to deposits in Brazil's northern state of Rora’ma. Since 1890, Guyana and Venezuela have produced a total of about 4.5 and 14 million carats, respectively

Brazilian Production:
Total: 55 million carats
Old annual: 50,000 to 300,000 carats; 1730s to 1861
Today: 1.5 million carats

Pat Robertson's Right-Wing Gold Mine




The little-known tale of the evangelist and the dictator
Charles Taylor, the freshly exiled president of Liberia, has a rap sheet that would have been the envy of Genghis Khan: Accused embezzler. Ruthless warlord blamed for torture, killings, forced labor, extortion. Partial bankroller of al-Qaeda. Indicted by a U.N. war crimes tribunal for arming Sierra Leoneon rebels who specialize in mass rape and in hacking off the limbs of civilians.

With his small West African country devastated by near-constant civil war since he began his bloody march to power 14 years ago, Taylor in recent months faced a rising chorus of calls from world leaders, including President George W. Bush, to step down.

Where's a guy like that going to find a friend?

Well, here's one place: the set of The 700 Club, the daily TV talk show presided over by Pat Robertson.


Christian Broadcasting Network's Pat Robertson (AP Photo)

The Liberian dictator and the American televangelist have emerged as one of the oddest couples of the year, a pairing some critics are calling a testament to the gospel of greed. And it's not the only such coupling for Robertson.
But first, the setting: The 700 Club is taped in a state-of-the-art studio in the palatial, cross-shaped headquarters of Robertson's Christian Broadcasting Network (CBN), nestled amid magnolias and crepe myrtles in suburban Virginia Beach, Va. The telecast reaches 1 million households with Robertson's trademark blend of faith healing, fundraising and fundamentalism.
Robertson is perhaps best-known in recent years for teaming up with Jerry Falwell to blame feminists and gays for the Sept. 11 attacks. Falwell is just one in a succession of hard-right guests, from Bill Bennett to Phyllis Schlafly, given a platform on The 700 Club.
This summer, Robertson launched a "prayer offensive," seeking divine intervention to turn the Supreme Court rightward-- an effort he hopes will culminate in a recriminalization of abortion. He's suggested prayers be directed to getting three of the judges, two of them presumably John Stevens and Ruth Bader Ginsburg, to resign.
But even with the energy expended on that effort, he still had time to prop up Liberia. "The United States State Department has tried as hard as it can to destabilize Liberia," Robertson complained on his June 26 show. "They only wanted to destroy the sitting president and his government."
Robertson returned to the issue again and again. On July 7, he asserted that the United States had no business forcing the "duly elected" Taylor from power. On July 9, he recommended sending U.S. troops to protect the Taylor regime from the rebels trying to overthrow it. "We sent our troops to
Kosovo to back up a Muslim group," he said. "In this case, we're looking at Muslim rebels trying to overthrow a Christian nation... If we can go out and defend Muslims, it looks to me like we can defend Christians."
Taylor's checkered past notwithstanding, Robertson saw the Liberian dictator as a bulwark of Christianity standing against the encroaching hordes of Islam. And Taylor had played his part to the hilt. At a three-day CBN-sponsored "Liberia for Jesus" rally in February 2002, Taylor was the star attraction, lying prostrate on the red-carpeted stage of Samuel Doe Stadium in Monrovia, the Liberian capital, and exhorting the crowd to come to Christ. "I cannot help you," he told his long-suffering people. "All help comes from God."
The spectacle was duly covered on The 700 Club. But there's one thing Robertson didn't tell his viewers: He and Taylor were more than brothers in Christ.
In 1999, Taylor signed a mineral development agreement with Freedom Gold Ltd., a for-profit company chartered in the Cayman Islands, granting it exploration and mining rights in the Bukon Jedeh region of southeastern Liberia, which is believed to have substantial gold reserves. Robertson is the company's president and sole director. If and when Freedom Gold begins to turn a profit, the Liberian government is guaranteed a 10 percent equity interest in the company.

The evangelist certainly didn't hide his Liberian business interests in a letter to Secretary of State Colin Powell in June 2002. "May I respectfully inquire as a taxpayer of the United States and one with significant financial investments in Liberia," he wrote, "why the State Department of the United States of America is determined to bring down the President of Liberia?"
After several news reports, Robertson has sought on the CBN.org website to distance himself from Taylor: "I regret that my sentiments in support of the suffering Liberian people were misinterpreted by The Washington Post as unqualified support for Charles Taylor, a man who I have never met, and about whose actions a decade ago I have no firsthand knowledge."
IT'S UNCLEAR WHETHER ROBERTSON ever heard back from Powell. But Robertson did get an earful from one of his longtime critics, Barry W. Lynn, executive director of Americans United for Separation of Church and State. "Taylor is one of the most brutal dictators in Africa, and it is appalling to me that Robertson would enter into a partnership with him merely to make money," Lynn said. "Now Robertson is using his tax-exempt Christian broadcast ministry to lobby the U.S. government to keep his crony in power. This is astounding."
But to veteran Robertson-watchers, this is deja vu. A decade ago, the evangelist befriended another notorious African dictator, President Mobutu Sese Seko of Zaire (now Congo). A onetime darling of the West during the Cold War, Mobutu had become an international pariah by the 1990s, reviled for looting his country's treasury and committing human rights abuses. That didn't stop Robertson from speaking out on his behalf and calling for an end to U.S. sanctions against his regime. In 1994 The 700 Club carried frequent reports on the humanitarian work being done in Zaire by Operation Blessing, Robertson's international relief organization. Typically, the reports were accompanied by appeals for donations.
What Robertson didn't tell viewers was that he also owned a for-profit company, African Development Co., which, with Mobutu's blessing, was doing exploratory mining for diamonds in Zaire.

Also unreported-- until two pilots came forward with the story in 1997-- was the fact that Operation Blessing's tax-exempt cargo planes were used almost exclusively for Roberton's diamond-mining operation, not for humanitarian purposes. A subsequent investigation by Virginia authorities turned up evidence for charging Operation Blessing with violations of the state's charitable solicitation law. But the office of Virginia Attorney General Mark Earley, who had received a $35,000 campaign contribution from Robertson, declined to prosecute. Robertson reimbursed Operation Blessing for the use of the planes, and the charity agreed to tighten its financial controls.
In the end, Robertson's diamond-mining venture was a big bust. Estimates of his losses ranged as high as $ 10 million. And his gold-digging gig in Liberia has been no gold mine either. In his agreement with Taylor, Robertson pledged to spend $10 million to $15 million in the exploratory phase of the operation-- but so far there's been no income.
Now the whole venture is threatened by the advances of the anti-Taylor rebels. A Liberian newspaper reported in April that Freedom Gold had halted operations amid fears of an imminent rebel attack on a nearby town. In August, Taylor finally yielded to international pressure and stepped down, taking asylum in Nigeria.
But Robertson, ever the adventurous entrepreneur, remains undaunted. His far-flung business ventures embody the "prosperity gospel" school of evangelical Christianity that seeks to fuse doing good with doing well. He never tires of telling the story of how he showed up in Portsmouth, Va., in 1959 with $70 in his pocket and, acting on God's instructions, bought a down-at-the-heels TV station, which he parlayed into a media empire worth hundreds of millions of dollars.
Playing down his aristocratic pedigree-- he's the son of a U.S. senator, is related to two U.S. presidents and has a law degree from Yale-- Robertson says his success is all the Lord's work. He calls it "God's law of reciprocity: God is the source of wealth. You give and God gives back. You give more and God gives back more."
That formula figures prominently in his TV fundraising appeals. If it worked for him, he implies, it can work for anyone. Pledge drives on The 700 Club feature frequent testimonials from viewers who say their financial circumstances improved dramatically once they became regular CBN donors. And the cash continues to roll in. CBN and Operation Blessing together reported nearly $150 million in contributions last year.
Even so, Robertson isn't above taking a little government largesse. Last fall, just a few months after he criticized President Bush's "faith-based initiative" as a "narcotic" that would make religious charities too dependent on the government, Operation Blessing was awarded a $500,000 grant under the program. Apparently, Robertson is now a convert. On the May 8 700 Club, he argued that charities like Operation Blessing should be allowed to participate in the program even if they practice religious discrimination in hiring. Such discrimination, he said, amounts to "nothing more than choosing steak over apple pie in a restaurant."
by Bill Sizemore
Ms. Fall 2003

washingtonpost.com
Pat Robertson's Gold
By Colbert I. King
Saturday, September 22, 2001;
Last week's terrorist attacks brought out the worst in televangelists Pat Robertson and Jerry Falwell. Three days after hijacked jetliners slammed into the Pentagon, the World Trade Center and the Pennsylvania countryside, Robertson posted a statement on his Christian Broadcast Network (CBN) Web site announcing that pornography, rampant secularism, the occult, abortion, the absence of prayer in schools and insults of God "at the highest level of our government" had sent the Almighty over the edge. America was attacked, Robertson asserted, "because God Almighty is lifting His protection from us."

Appearing on CBN's "700 Club" the day before Robertson's blast, Falwell had also cut loose.

Falwell (who you may recall feared that Tinky Winky the Teletubby was gay and out to damage the moral lives of children) singled out homosexuals, supporters of abortion rights, pagans, the American Civil Liberties Union and People for the American Way as groups to blame for the Tuesday massacres. But a day later and facing a firestorm of criticism, Falwell backtracked. Labeling his own comments "insensitive, uncalled for at the time, and unnecessary as part of the comment on this destruction," Falwell said he blamed no one but the hijackers and terrorists for what happened.

Robertson, who had joined Falwell's blame game during the show, ("Jerry, that's my feeling") cut and ran when it hit the fan. "Severe and harsh in tone" was how Robertson characterized pal Falwell's remarks in a later press release. "Totally inappropriate," he later said during a Fox News appearance.

Well, the Rev. Falwell has advanced to the rear, so let's let him be for the moment. Robertson, however, is another matter. He still thinks God removed His protection from the nation, thus allowing our enemies to give us what we deserve.

What's more, to hear Robertson tell it, one of the abominations prompting God to hide his face from America is this country's self-indulgence, pursuit of financial gain and focus on wealth.

Which is the subject of today's column, and the basis for this humble question: What, pray tell, does the Good Lord make of Pat Robertson's gold-mining venture in Liberia with Charles Taylor, international pariah and one of the most ruthless, greedy and terror-producing heads of state in all of sub-Saharan Africa?

What? He didn't know?

Well it probably slipped Robertson's mind, busy as he is in getting people to send in those checks, money orders and love offerings to support his cause. How the reverend found time to hook up with Taylor, I'll never know.

But in May 1999, Robertson, through Freedom Gold Limited, an offshore company registered in the Cayman Islands but based at CBN headquarters in Virginia Beach, signed an agreement with Taylor and key cabinet members allowing the for-profit Freedom Gold to explore and receive mining rights in southeastern Liberia, where gold is believed to be in the ground.

It's a great deal for Liberia, which is now an economic basket case thanks to the long civil war and Taylor's corruption. It's also good for Freedom Gold, which was formed by Robertson in 1998. Liberia -- and for all practical purposes we're talking Taylor -- gains 10 percent ownership of Freedom Gold.

As The Post's Douglas Farah reported in January, huge amounts of the country's funds have been siphoned off by a small group of Taylor's associates and relatives. Taylor "has his hand in everything and gets a cut of everything," a businessman told The Post. Other Liberians, probably Taylor's gang, are entitled to buy at least 15 percent of Freedom Gold's shares after the exploration period.

In a phone interview on Wednesday, Joe Mathews, Freedom Gold's vice president for finance and administration ("actually I'm acting as managing director," he confided), said the company is currently in the exploration stage but "there is little activity at the moment because it's monsoon season."

He said gold has been found, but whether it is a viable venture has not been determined. Mathews confirmed reports that Freedom Gold is committed to spend $15 million during the exploration phase, but he said it has yet to spend anything close to that amount. The deal with Liberia gives Freedom Gold exploration rights for five years, and an additional "20 years to mine it," Mathews said. Liberia is currently collecting exploration and rental fees from Freedom Gold; the government also will pocket royalties and rental fees once production gets underway.

Yesterday Fisher also faxed a letter stating that the company has shown it is "a responsible corporate citizen." He cited company-built wells and pumps for safe drinking water, a free medical clinic that serves 1,000 patients a month from surrounding villages and the construction of roads and bridges to reach the area. "Freedom Gold has done more for the people in this region in the last two years than any other company over the last thirty years," he said, adding that the company intends to contribute even more.

Taylor needs the cash. His country is in ruins, though he and Madam Jewel Howard Taylor live well, thanks to sales of Liberia's precious resources and concession fees from foreign investors such as Freedom Gold.

Monrovia, the country's capital, is the pits: sporadic running water and electricity, hungry and malnourished children. And the countryside, where illiteracy is up to 70 percent and fighting still rages, is worse off.

The United Nations finally got its back up. Fed up with Taylor's complicity in helping rebels in neighboring Sierra Leone market diamonds to finance terror against their government, the U.N. Security Council slapped sanctions on Liberia: no international sale of diamonds; an embargo on foreign travel by senior Taylor officials. The United States has imposed economic sanctions, too.

And why not?

The U.S.-educated but Libya- trained Taylor is a menace to all that's decent. Ironically, it was Christmas Eve 1989 -- (get that Mr. Robertson) -- when warlord Taylor and his band of rebels launched their bloody invasion of Liberia. They took on a despot in then-president and former sergeant Samuel Doe. But Taylor's crowd turned out to be no better. Twelve years later, with tens of thousands of Liberians slain, hundreds of thousands displaced throughout West Africa, a generation of young Liberian boys ruined by their conversion to child soldiers, women raped and mutilated, his country is in absolute ruins and is ostracized by the world community -- except for hustlers, mercenaries and the preacher/entrepreneur from Virginia Beach. Taylor presides over a near corpse.

Finding himself in the tightest of spots, Taylor the Intimidator weighed in this week on America's side in the fight against terrorism. But his real hope lies with deep-pocketed foreigners and their unquenchable thirst for a buck.

What a marriage. Can't you see it now? Robertson, fresh from his latest condemnation of sin, prediction of world collapse and visions of Liberian gold, sports his best "aw, shucks" smile, throws his arm around a grateful President Taylor -- who ought to be standing before a war crimes tribunal -- and coos: "C'mon, Charlie, what's a little human rights between friends?"

e-mail: kingc@washpost.com



© 2001 The Washington Post Company