The latest sightholders include D Navinchandra Gems, Diambel, Vallabhbhai Dhanjibhai & Co, Yaelstar and Star Rays. De Beers now has 85 global sightholders.
These five businesses will receive supply via an Intention to Offer for the current Supplier of Choice (SoC) contract period, which ends in March 2015.
De Beers executive vice president for auction sales, Neil Ventura, 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.”
In addition to being subject to a “rigorous and objective selection process”, each SoC contract applicant is required to adhere to the De Beers Best Practice Principles, which ensure all sightholders adopt strict ethical standards in business practices.
Vallabhbhai Dhanjibhai & Co, which specialises in pointer-sized stones, is based in Mumbai, India, and solitaire diamond manufacturer and supplier Star Rays is based in Gujarat, India.
The other three companies are based in Antwerp, Belgium. D Navinchandra Gems is a diamond cutting and distribution business, Diambel is a distributor of small-sized rough, and Yaelstar claims to be one of the world’s largest online business-to-business diamond marketers.
A full list of De Beers’ sightholders can be found on its corporate website.
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