The Diamond Trading Company extends Supplier of Choice contract
The Diamond Trading Company Botswana (DTCB) has today announced that all existing Sightholders will be offered a one year extension to their current three-year Supplier of Choice (SoC) contracts. The extension will start on 31st March 2011 and run until 30th March 2012.
A new, three-year supply contract will now come into effect in 2012. Sightholders and non-Sightholders wishing to apply for DTCB supply will be able to do so from Q2 2011.
Varda Shine, CEO of DTC, said: “By extending the current contract by one year, we are providing both Sightholders and non-Sightholders with the time they need to focus on recovery. Ms. Shine added, “We welcome the interest shown by companies that wished to apply to become Sightholders in 2011. We hope that they understand the necessity of our decision not to run an assessment in 2010. We look forward to engaging with them during the application process for the 2012-2015 contract period, which will take place next year.”
The DTCB will be making a further announcement and providing full details of its plans and the terms of the extension, in due course.
The proposed extension to the existing SoC contract will also apply to Sightholders currently receiving Sights in London and Kimberley.
• Namibia DTC (NDTC) will also be proposing to offer to extend its current contract by one year. The extended contract will run from 31st March 2011 to 30th March 2012, at which point it is currently envisaged that NDTC will enter into new three-year Supplier of Choice contracts with qualifying applicants for the 2012-2015 contract period.
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Corporate Communications & Public Affairs Manager
Notes to Editor:
THE DIAMOND TRADING COMPANY (DTC)
The DTC is the rough diamond distribution arm of the De Beers Family of Companies and is the world's largest supplier of rough diamonds, handling nearly half of the world's supply by value. With activities in sorting, valuing and diamond beneficiation, the DTC has representative offices in the UK, and South Africa, as well as joint venture operations in Botswana and Namibia with the governments of those countries.
Formed in 1934, the DTC was incorporated in 1986 and established as a stand alone company within the De Beers family in July 2004. Through its producer and customer value propositions, the company is focused on maintaining its position as the world’s most effective distribution channel for rough diamonds.