News from our businesses and markets
London, 19 March 2013: The De Beers Group of Companies announced today the addition of five new Sightholders for the remainder of the 2012-2015 Supplier of Choice (SoC) contract period. De Beers’ modified SoC re-planning process, announced in 2011, enables businesses that demonstrated sufficient demand through De Beers’ Auction Sales in 2012, to qualify for term contract supply and Sightholder status.
Sightholder status is subject to De Beers’ forecast rough diamond availability and the eligible applicant’s submission of a Contract Proposal Questionnaire (CPQ) as part of the 2013 ITO re-planning process. Each applicant for a SoC contract under the 2013 ITO re-planning process has been subject to the same rigorous and objective selection process as those applicants that applied for supply at the start of the 2012-2015 contract period in 2011. Additionally, all applicants are required to adhere to the De Beers Best Practice Principles, ensuring that, Sightholders are “living up to diamonds” by adopting clear ethical standards in their business practices.
In addition to the qualification of new Sightholders, the ITO re-planning process also provided opportunities for existing Sightholders to qualify for new rough diamond allocations as part of their 2013-2014 ITOs. The new allocations are subject to forecast availability and reflect Sightholders’ demonstrated demand for rough diamond categories outside their 2012-2013 ITOs.
Philippe Mellier, CEO of De Beers Group, commented on the announcement: “De Beers is proud to welcome five new businesses into the Sightholder community. Our Sightholders represent the world’s leading diamantaires, and today’s announcement means that we will be better able to supply them with the right diamonds to support them in adding maximum value to our finite resource.”
Varda Shine, Executive Vice President, Global Sightholder Sales, commented on the announcement: “The introduction of dynamism into this contract period is a further evolution in our Supplier of Choice strategy, which provides a greater level of flexibility for Sightholders and enables De Beers’ distribution to be more efficient. We look forward to building strong and productive partnerships with our new Sightholders.”
De Beers will supply 82 Sightholders globally for 2013-2014 ITO period, which will commence on the 31 March 2013.
Contact
Nigel Simson
O: +44 (0) 2074 303819
M: +44 (0) 7834 432941
About 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 unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 23,000 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 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.