Changes create greater purchasing flexibility for non-Sightholders.
The De Beers Group has announced its updated model for the allocation of rough diamonds by Global Sightholder Sales (GSS) for the March 2015-2018 contractual period.
At present, about 90% of De Beers’ total rough diamond availability by value is sold through GSS. The updated allocations model will introduce a new method for determining GSS’s rough diamond customer-base, with a simplified, compliance and demand-based customer qualification process being introduced.
De Beers will also adopt a more flexible sales approach through which non-Sightholder diamond businesses will have opportunities to purchase rough diamonds from GSS.
Registrations of interest in applying for GSS rough diamond supply for the new contractual period will be open from August 25 to August 29 2014. Interested diamond businesses can learn more about the new arrangements here.
De Beers Group chief executive Philippe Mellier said of the changes: “The Sightholder system has been at the heart of our selling model for decades and it will continue to be central to our approach in the new contract period.
“However, the changes we are introducing will provide greater flexibility in purchasing opportunities at De Beers. They will enable those expressing strong demand for the rough diamonds we sell to purchase them on a term contract basis as Sightholders, while also offering more opportunities for non-Sightholder diamond businesses to demonstrate their demand for De Beers rough diamonds. The more rigorous financial and existing ethical compliance requirements will also help to reinforce third party confidence in the strength and transparency of Global Sightholder Sales’ customer-base”.