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The De Beers Group of Companies today announced that its Auction Sales business is to begin piloting fixed-price forward contracts. These contracts will offer the opportunity for Auction Sales customers to guarantee access to future supply with certainty over the price to be paid when the contract reaches maturity.

The first event will take place on 16 February 2017, for the Grainers, Smalls and Near Gem categories of rough diamonds.

The pilot has been developed in response to customer feedback on Auction Sales’ previous forward contract sales, which offered the guarantee of future supply but with a ‘floating’ price based on the spot price at the point when the forward contract matured. Fixed-price forward contracts are expected to provide a highly effective supply sourcing option for small and medium sized enterprises which are seeking access to regular rough diamond supply at a predictable price.

Neil Ventura, Executive Vice-President of Auction Sales, said: “Extensive customer dialogue has highlighted potential to further develop the forward market for our rough diamonds. Our customers have told us they see value in securing short-term supply contracts but would prefer to do so on a fixed price basis, avoiding potential challenges when securing contracts on a floating price basis that references the underlying spot price at contract maturity.

“We are therefore piloting three-month forward contracts on a fixed price basis to complement our spot sales channel and the term supply contracts offered by Global Sightholder Sales, while further testing stated customer demand for regular, guaranteed short-term supply at a fixed price.”

Since launching forward contract sales on a floating price basis back in December 2013, Auction Sales has steadily developed its forward sales channel, selling more than 350 bespoke supply contracts in total over the period.

The pilot for fixed-price contracts follows other Auction Sales pilots, including those enabling third parties to use its auction platform for rough and polished diamond sales.

Further information on De Beers’ Auction Sales business, including how to register as a customer, can be found at



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About The De Beers Group of Companies

De Beers is a member of the Anglo American plc group. Established in 1888, De Beers is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people 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 ‘Building Forever’ 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


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