DTC Reveals Sightholders

By JCK Online Staff -- JCK Online, 4/29/2008 9:59:00 AM

The Diamond Trading Company, the distribution arm of the De Beers family of companies, on Tuesday published the list of sightholders that have been awarded supply until March 2011 by wholly owned and joint-venture DTC operations around the world.

The list of sightholders, which DTC defines as those "companies best positioned to add value to the rough diamonds the DTC sells," is now available on www.dtcsightholderdirectory.com.

The announcement follows the completion of the first phase of the DTC’s initial third party verification of contract proposals and the creation of account plans for all sightholders in London (including Canada), South Africa, Namibia, and Botswana.

“Our goal is to strengthen the DTC’s position as the most effective distributor of rough diamonds in the world by driving value though transformation," said Varda Shine, DTC managing director. "This means we are totally committed to working with these enormously diverse companies, worldwide, that are best positioned to add value to the rough diamonds we sell. The new list represents a collection of the best diamond companies in the world."

Shine went on to say that the DTC has "undergone a major transformation" during the past few years. "We have strengthened our distribution network through the creation of DTC joint-venture operations in Botswana and Namibia; we have realigned the functions of our company to concentrate the DTC’s resources 100 percent on diamond distribution and client services."

Shine added, “More than ever before, we are determined to continue to be the partner of choice for sightholders and for our producer partners. For sightholders, we are delivering unprecedented benefits."

In addition to the new three-year contract, Shine said that the DTC is providing an "Intention To Offer," which is a 12 month supply planning tool which enables sightholders to plan their purchases from the DTC and their throughput of diamonds downstream.

DTC said that all applicants for the new sightholder contract have been through a "fair and robust process that assessed applicants’ relative performance against clear and objective criteria, taking into consideration the availability of rough diamonds within the particular categories applicants requested."

The criteria, according to the DTC, "was designed to identify those applicants that demonstrated excellence in their technical ability, their distribution and marketing ability, and the core strengths of their diamond business. Financial transparency and ethical accountability were mandatory requirements for all applicants."