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Five new Sightholders included following demonstration of strong demand at De Beers Auction Sales
Gaborone, Botswana 01 April 2014: The De Beers Group of Companies today published an updated Sightholder Directory, confirming the five new Sightholder businesses that will receive supply via an Intention to Offer (or ‘ITO’) for the remainder of the 2012–2015 Supplier of Choice (SoC) contract period.
The newly qualified Sightholders are D. Navinchandra Gems BVBA; Diambel NV; M/S. Vallabhbhai Dhanjibhai & Co., Yaelstar BVBA; and Star Rays.
Neil Ventura, Executive Vice President, Auction Sales said ‘’We are delighted that five Auction Sales customers have qualified for Sightholder contracts as a result of the demand they have demonstrated for products sold at our auctions.
This further substantiates our view that the combination of spot sales and recently launched forward contract sales provides our customers with industry-leading flexibility to secure short and medium-term supply contracts with De Beers via auction sales, and through these purchases potentially qualify to be Sightholders.”
Nigel Simson, Senior Vice President, Global Sightholder Sales said: “We very much look forward to welcoming these businesses into the Sightholder community. They have fully earned their place among the world’s leading diamantaires by virtue of the strong demand they have exhibited at Auction Sales and the quality of their Contract Proposals.”
Each applicant for a SoC contract under the 2014 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 strict ethical standards in their business practices.
Further details can be found in the Sightholder Directory: https://www.debeerssightholder.com/en/Sightholder-directory11/
Contact:
David Johnson
Press office: +44 (0) 207 430 3434
ABOUT 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 unrivalled 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.