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Rio Tinto Carries Out First Shipment of Rough Diamonds to BDB’s Special Notified Zone
Nov 16, 2015 9:10 AM
By Rapaport News
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RAPAPORT... The
India Diamond Trading Centre (IDTC), the special notified zone established in
July at the Bharat Diamond Bourse (BDB), has completed its first test shipment
and re-export of rough diamonds from Rio Tinto.
The IDTC is the first special notified zone in India to
trade rough diamonds under laws that enable firms to source the stones directly
from miners, reducing operational costs and travel time to overseas trading
hubs, India’s Gem & Jewellery Export Promotion Council (GJEPC) said in a
statement November 16.
The center was established by the GJEPC in collaboration
with the BDB, which operates the zone.
The IDTC will hold rough diamond viewings and auctions on a weekly basis. De Beers’
subsidiary DTC, Dominion Diamond Corporation & Rio Tinto are among the
companies scheduled to attend. Viewings are booked up until December 2016, the
GJEPC said.
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Tags:
Bharat Diamond Bourse, India, India Diamond Trading Centre (IDTC), Rapaport News, Rio Tinto, Rough Diamonds, special notified zone
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