News

Advanced Search

De Beers Updates Rough Allocation Process for Sightholder Sales

Businesses May Register Through August 25

Jul 22, 2014 7:00 AM   By De Beers
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Press Release: The De Beers Group of Companies  updated  the model for the allocation of rough diamonds by global sightholder sales in respect with the March 2015 to March 2018 contractual period.

Around 90 percent of De Beers rough diamond availability by value is sold through sightholder sales. The updated allocations model will involve a new method for determining sightholder sales rough diamond customer-base, with a simplified, compliance and demand-based customer qualification process being introduced. It will also adopt a more flexible sales approach through which non-sightholder diamond businesses will have opportunities to purchase rough diamonds from sightholder sales.

Registrations of interest in applying for sightholder sales rough diamond supply for the new contractual period will be open from August 25 to 29, 2014. Interested diamond businesses can learn more about the new arrangements here.

Philippe Mellier, the CEO of De Beers Group, said, “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.”

About the De Beers Group of Companies

De Beers is a member of the Anglo American group. Established in 1888, De Beers is the world’s leading diamond company with unrivaled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people (directly and as contractors) across the diamond pipeline, and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers visit www.debeersgroup.com.

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: De Beers
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.