Diamonds



On Sight Some of De Beers’ 75 sightholdersare breathing a sigh of relief after the company extended their buying contracts until March 2012. The agreements were originally set to expire in April 2011. But completing the notoriously detailed sightholder questionnaires often brings companies to a halt, explains Diamond Trading Company managing director Varda Shine.“People take forever to fill out the profiles, and we take forever to score them. It would actually be much better if the market focused on reviving the business,” says Shine, adding that De Beers feels “it is better to judge people in a normal year.”This move extends the current contract period to four years, although it will revert to the standard three-year period after next April.The DTC may also require sightholders to join the Responsible Jewellery Council (RJC), as rivals BHP and Rio Tinto
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out