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RAPAPORT...
LONDON: Throughout our global operations, De Beers continues to focus on those resources and operations that best form part of our long-term future. We have been carefully examining all our assets and operations to ensure De Beers remains “fit for purpose” in a changing, much more dynamic industry.
As part of this drive to even greater operational effectiveness and efficiency, and to better meet the challenges of the current diamond market, De Beers has concluded that it is necessary to restructure the Diamdel group of companies. This follows much careful thought and an important period of staff consultation.
The proposed Diamdel reorganisation takes into account De Beers’ stated commitment to support the secondary market.
Diamdel will continue to sell to non-sightholders, principally through Diamdel NV in Antwerp and Hindustan Diamond Corporation (HDC) in India. All operations, with the exception of HDC, will be scaled back, as appropriate, so that we retain maximum flexibility to service our customers’ needs, whilst being mindful of cost efficiencies.
In South Africa, the Diamdel office will cease trading, as De Beers has agreed to provide diamond skills and services to the soon-to-be-established State Diamond Trader. Affected staff will be seconded in an appropriate manner to this new entity. We are excited about our role in helping to set up the State Diamond Trader.
In Namibia, it is expected that Namibia Diamond Trading Company, the new sales and marketing company owned jointly by De Beers and the government of Namibia, will consider applications for supply from any diamond manufacturing operation in the country, provided it has a valid Namibian cutting and polishing licence, a role played in part by Diamdel in the past.
Reshaping the De Beers Group is necessary to meet the challenges of being a world class diamond company in an evolving market place. The Diamdel restructuring is part of this transformation.
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