DTC Prepares ‘Support’ for Ex-Sightholders

The Diamond Trading Company has launched a Sightholder Support Programme for companies that don’t get allocations under the revised client list it will announce this month.

A brochure describing the program, distributed at the October sight, says the DTC has “no idea, at this stage, how many clients we will be supplying in the next contract period,” but because of decreased availability and its commitment to joint venture partners “we will not be able to supply as many sightholders as we currently do.”

Therefore, the Sightholder Support Programme “has been designed to help deselected sightholders by offering high-profile consultancy support in managing its reputation and relationships with key stakeholders.”

The program will be run by consultants PricewaterhouseCoopers. It will look at “What facts do [deselected sightholders] need to communicate about this change?” “How should I present these facts?” and “What are my options?”

The program was not well received by sightholders. Most assume it foreshadows a bloodbath, with many companies crossed off the sightholder list.