Friday, December 16, 2011

De Beers to Announce New DTC Sightholder List

The Diamond Trading Company (DTC) has finalized its sightholder list for the next contract period beginning in April 2012 and will inform applicants of their status on Monday, December 19.
The De Beers distribution unit opened the application process in March requiring applicants to submit contract proposal questionnaires, which would demonstrate their financial stability and that the company meets De Beers best practice principles and ethical standards, among other requirements.

The new contract will run for three years through to 2015.

DTC is the main distribution unit for De Beers, however, there is growing market speculation that the mining group will supply less rough through the sightholder channel. This is largely the result of De Beers agreeing to supply 10 percent of its Botswana production to the Botswana government to tender those goods independently and as it has increased its efforts recently to expand its Diamdel auction business.

Currently, DTC has 66 sightholders in London, 16 in Botswana, 13 in South Africa, 10 in Namibia, and one in Canada, according to the company’s sightholder directory. There are also four sightholders for De Beers industrial diamonds.

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