De Beers Publishes Updated Sightholder Directory for Final Year of Current Contract

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The De Beers Group of Companies today published an updated Sightholder Directory, which includes the five new Sightholder businesses that will receive supply via an Intention to Offer (ITO) for the remainder of the 2012–2015 Supplier of Choice (SoC) contract period.

De Beers is pleased to congratulate and welcome its newest Sightholders: D. Navinchandra Gems BVBA; Diambel NV; M/S. Vallabhbhai Dhanjibhai & Co., Yaelstar BVBA; and Star Rays.

Neil Ventura, Executive Vice President, Auction Sales said “We are delighted that five of De Beers’ auction customers have qualified for Sightholder contracts as a result of the demand they demonstrated for products sold at our auctions.

The combination of spot sales and recently launched forward contract sales provides our customers with both industry-leading short and medium-term purchase flexibility and a real opportunity to achieve Sightholder status.”

Nigel Simson, Senior Vice President, Global Sightholder Sales said: “We very much look forward to welcoming these businesses into the Sightholder community for the remaining ITO of this contract period. They have fully earned their place among the world’s leading diamantaires and we are excited to build deeper relationships with each of them.”

Each applicant for a SoC contract under the 2014 ITO re-planning process has been subject to the same rigorous and objective selection process as those applicants that applied for supply at the start of the 2012–2015 contract period in 2011. Additionally, all applicants are required to adhere to the De Beers Best Practice Principles, ensuring that Sightholders are “living up to diamonds” by adopting strict ethical standards in their business practices.

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