72 DTC sightholders qualify for next three years

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DTC London boasts most sightholders but all names kept under wraps.

De Beers’ Diamond Trading Company (DTC) has announced that 72 sightholders have qualified for the next three-year contract period through to 2015, though it will not make the names of the sightholders public until March 2012 due to auditing.

DTC London remains the largest group of sightholders, with 66 registered, while DTC Botswana sightholder numbers have been upped to 21 from 16.

Canada added a new sightholder, making a total two, while Namibia has three new sightholders equating to a total of 13.

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The new list of sightholders shows that the DTC is moving its focus towards diamond-producing countries however South Africa is said to have lost three sightholders, shifting its numbers down to 10.

It is not clear how many companies lost their allocation but JCK notes that, according to The Times of India, one of the companies that lost sightholder status was the Indian exporter, Sanghavi Exports.

Borhanjoo said: “We are committed to beneficiation but the way we look at it is: How much do we have available, what do people apply for, and what goods can we provide? It’s not focused on how many sightholders we have [in one area].”

Companies that may not have got sightholder status can reapply throughout the 2012 to 2015 contract period, however Borhanjoo said that the selection process was “stringent, open and transparent”.

“The companies that made it on the list are some fantastic and very strong businesses,” he said.

“That doesn’t mean that we have all the strong businesses out there. It all depends of availability. But most certainly we have a fantastic group of diamantaires.”

DTC Sightholders collectively handle approximately 75% of the world’s diamonds. Based in traditional cutting centres such as Antwerp, Tel Aviv, Mumbai, Johannesburg and New York, as well as in Botswana, Namibia, Russia, China and Canada, Sightholders attend the DTC’s Sights, or sales weeks, which occur ten times a year.

Sightholders qualify for DTC supply by means of an objective process including their ability to add value to the diamonds we sell, their expertise in particular rough diamonds and their financial and ethical integrity.
 

 

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