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De Beers Green-Lights Disclosure-Rule Changes

Company will allow clients to call its goods “DTC diamonds.”
Jan 8, 2019 10:53 AM   By Joshua Freedman
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RAPAPORT... De Beers has approved plans to allow sightholders to refer to its goods as “DTC diamonds,” a company spokesperson confirmed with Rapaport News on Tuesday.

The miner consulted with clients during the December sight in Botswana, proposing to relax its ban on buyers identifying diamonds as De Beers goods further down the supply chain. Until now, sightholders could only disclose their supply from De Beers came from one of four countries in which the company operates — Botswana, Canada, Namibia and South Africa.

Under the new system, they still won’t be able to use the “De Beers” name, since it is preserved for the Forevermark and De Beers Jewellers consumer brands.

The company intends to implement the changes during the first quarter, the spokesperson said. It will also launch DTC.com, a website dedicated to providing information about its mines and the provenance credentials of DTC diamonds.

Image: Diamond sorting in Botswana. (De Beers)
Tags: Botswana, Canada, De Beers, De Beers Jewellers, disclosure, DTC, DTC diamonds, DTC.com, Forevermark, Joshua Freedman, Namibia, provenance, Rapaport News, Sightholders, source of origin, South Africa
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