DTC Changes Sightholder Criteria

The Diamond
Trading Company and subsidiary DTC Botswana on April 7 announced they have
adjusted their criteria to become a sightholder.

Applications registering for Canadian, Botswana, or London sights now need to demonstrate total rough diamond utilization of at least  $50 million  from 2008 to 2010, including $20 million in 2008 and 2010, and $10 million in 2009. The previous requirement had been $20 million for all three years.

The DTC’s
minimum “diamond utilization” thresholds have been somewhat controversial, given
how much diamond demand fell during the last three years.

“The
feedback we received formed a compelling case to downward adjust the minimum
diamond utilization criterion since global diamond sales during 2009 were
substantially lower, and we believe that we need to reflect this in a reduced
threshold for that year,” Mahiar Borhanjoo, executive director, DTC Sales and
Sightholder Services, said in a statement.

Applicants
must register their interest by April 17.

Borhanjoo
discussed the application process with JCK
here.

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