De Beers Names Five New Sightholders For 2012–2015 Period

(IDEX Online) – De Beers has published an updated Sightholder Directory, naming the five new Sightholders that will receive supply via an Intention to Offer (ITO) for the remainder of the 2012–2015 Supplier of Choice (SoC) contract period.

The companies are: D. Navinchandra Gems BVBA; Diambel NV; M/S. Vallabhbhai Dhanjibhai & Co., Yaelstar BVBA; and Star Rays.

Neil Ventura, Executive Vice President, Auction Sales said the five De Beers’ auction customers qualified for Sightholder contracts as a result of the demand they demonstrated for products sold at the 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: “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."