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DeBeers To Review It's SightHolder List, Again.
GIA newsletter reports today that De Beers Diamond Trading Company (DTC) will announce a new round of potentially far-reaching changes in its sightholder roster in July, said De Beers Managing Director Gary Ralfe in an address to clients Jan.12.
Under the company’s Supplier of Choice program, every client must reapply for sightholder status every two years. In addition, companies that previously failed to make the list, as well as other diamond dealers and manufacturers, are invited to apply.
High on the DTC’s priority list will be manufacturers from producer countries South Africa, Botswana, and Namibia. Ralfe called on clients to “help build viable, non-subsidized cutting industries that can compete with established cutting centers elsewhere.”
The DTC caused a furor late in 2003 when it announced that it would cut one-third of its clients beginning with the Jan. 2004 sight.
In addition, Ralfe stated that the DTC was taking “appropriate measures” to guard against “unlawful exchanges of data” – particularly prices – by companies or individuals with diamond mining interests. The policy is meant to exclude diamond manufacturers with substantial mining operations who, in the DTC’s view, may gain access to proprietary data.
DeBeers also stated that it was in no hurry to do business in the United States, a counter salvo to several companies that have recently filed lawsuits against DeBeers for the SOC program and claims of Monoply and unfair business practices.
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Comments
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Posted by: smith K M on July 19, 2007 7:04 AM