De Beers to take apps for term supply in 2012-2015

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Changes reflect introduction of Supplier of Choice strategy.

De Beers Group has announced that for the first time, as part of the Supplier of Choice (SoC) strategy, eligible customers of its rough diamond auctions will be invited to apply for term supply for the remainder of the 2012-2015 SoC contract period.

The announcement reflects changes made to SoC, and announced in April 2012, to create a more dynamic Intention to Offer (ITO) re-planning process.

Sightholders and non-Sightholders that have demonstrated sufficient demand through De Beers’ auction sales in 2012 will, subject to De Beers’ forecast rough diamond availability, have the opportunity to qualify for an ITO by submitting a Contract Proposal Questionnaire (CPQ) as part of the 2013 ITO re-planning process.

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In addition to meeting mandatory financial and compliance requirements, in order to be eligible to apply for an ITO, auction customers (who may or may not be a current Sightholder) must have demonstrated the requisite level of demand at De Beers’ auction sales in 2012 in categories of rough diamonds for which De Beers has sufficient forecast availability.

All CPQs will be assessed according to the rigorous procedures that were used in 2011 to select Sightholders for the 2012-2015 contract period.

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