According to reports, there will be fewer Diamond Trading Company (DTC) sightholders in the three-year contract period starting April 1, 2008 than the 93 firms that now hold that title, DTC Managing Director Varda Shine. %%Current and would-be sightholders must apply for the next contract period by July.
%%The reason is that the DTC will have less rough to go around due to “beneficiation†efforts in southern Africa—De Beers’s commitment to supply locally mined rough diamonds to the diamond polishing industries in Botswana, Namibia and South Africa, Shine said.%%Another probable reason why the DTC will have less rough on hand is that Russian monopoly diamond producer Alrosa is required to stop selling De Beers rough after December 31, 2008, due to an antitrust ruling by the European Commission.
Be the first to comment