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WFDB, De Beers Meet To Discuss Rough Market - Dec.2003
A delegation from the World Federation of Diamond Bourses, headed by
President Shmuel Schnitzer, met with DTC officials to discuss rough
supply to the secondary diamond market.
The WFDB told De Beers Managing Director Gary Ralfe, along with other
DTC senior executives, that the rough supply to the secondary market should
increase in 2004—by means of the Diamdel offices in manufacturing
centers located around the world. The DTC said that the level of sales at
Diamdel would be reviewed and that the DTC would, indeed, take steps to support
the secondary rough diamond market. The DTC will continue its policy, Ralfe
said, to not to sell to its own sightholders through Diamdel.
“It is imporant to note that all the rough diamonds that the DTC sells to
Diamdel—up to $500 million this year—are sold on to a wide variety of
companies,” he said. “It is De Beers’ hope and intention in 2004 to
increase the DTC’s supply of rough diamonds to Diamdel in support of the ‘secondary’
market.” v
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