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De Beers Green-Lights Disclosure-Rule Changes
Jan 8, 2019 10:53 AM
By Joshua Freedman
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RAPAPORT... De Beers has approved plans to allow sightholders to refer
to its goods as “DTC diamonds,” a company spokesperson confirmed with Rapaport
News on Tuesday.
The miner consulted with clients during the December sight
in Botswana, proposing to relax its ban on buyers identifying diamonds as De
Beers goods further down the supply chain. Until now, sightholders could only
disclose their supply from De Beers came from one of four countries in which
the company operates — Botswana, Canada, Namibia and South Africa.
Under the new system, they still won’t be able to use the
“De Beers” name, since it is preserved for the Forevermark and De Beers
Jewellers consumer brands.
The company intends to implement the changes during the
first quarter, the spokesperson said. It will also launch DTC.com, a website dedicated
to providing information about its mines and the provenance credentials of DTC
diamonds.
Image: Diamond sorting in Botswana. (De Beers)
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Tags:
Botswana, Canada, De Beers, De Beers Jewellers, disclosure, DTC, DTC diamonds, DTC.com, Forevermark, Joshua Freedman, Namibia, provenance, Rapaport News, Sightholders, source of origin, South Africa
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