DTC Announces Far Fewer Sightholders, Especially in U.S. - Jan.2008
Reflecting its diminished importance in the diamond market, De Beers has
announced a dramatically scaled back client list.
In a long-awaited announcement, the company announced that 75 sightholders
will be serviced through DTC London and DTC South Africa.
All told, there are 79 sightholders, including clients from DTC Botswana and
Namibia Diamond Trading Company. According to one report, 150 companies applied.
Of the 75 sightholders for the 2008-2011 contract period, six are new
companies.
The selection saw declines in the amount of sightholders in India, Antwerp
and New York, although many New York companies were reportedly spared the axe.
But America now has probably the same amount of De Beers stores as De Beers
sightholders.
The only centers that have gained as far as DTC supplies are those in South
Africa, Namibia and Botswana, where the governments have been pushing for
increased local industries.
"Competition for rough diamonds is now fiercer than ever," noted
managing director Varda Shine. v
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