Diamond Trading Company’s first contracts issued from Gaborones
The De Beers Group of Companies earlier this month commenced the 2015-2018 Global Sightholder Sales (GSS) contracts.
The updated qualification process aims to increase third party confidence in GSS customers’ corporate transparency and financial robustness. De Beers identified two types of GSS customer in the three year contract namely, Sightholders and Accredited Buyers. “Sightholders qualify for term contract supply which indicates the nature and value of rough diamonds De Beers anticipates being able to offer Sightholders across the forthcoming 12 month selling period,” the group said. Accredited Buyers have the opportunity to purchase rough diamonds on a more ad hoc basis via ‘ex-plan’ availability, which Sightholders can also purchase. The 2015-2016 selling period will commence with 84 Sightholders and two Accredited Buyers.
De Beers remains committed to delivering sustainable beneficiation in the countries of its diamond producing partners. Over the course of the contract period De Beers will therefore continue to support domestic beneficiation sectors in these countries by selling economically cuttable rough diamonds in-country. Philippe Mellier, CEO of De Beers Group, said, “The diamond industry is approaching a period of great opportunity and businesses need to be strategically well-positioned if they are to make the most of it. The approach to the new GSS contracts will support customers in this area by helping to identify them as bankable and resilient businesses.”