Diamond Trading Company announces new sightholder companies
Diamond Trading Company announces new sightholder companies
The five new Diamond Trading Company (DTC) sightholders have been named.
The companies were given sighths after they bought at least $3 million of a certain category of rough diamonds from De Beers' subsidiary Diamdel.
The firms are: Asian Star, H Dipak, Hvk International, KP Sanghvi & Sons and Wing Hang. The first four diamond manufacturers are Indian, while Wing Hang is from Hong Kong.
The companies were given sighths after they bought at least $3 million of a certain category of rough diamonds from De Beers' subsidiary Diamdel.
De Beers changed its policy last year, saying that both sightholders and non-sightholders which bought at least $3 million of certain rough goods and conducted a minimum of three separate purchases in a calendar year at Diamdel's auctions would be offered a DTC allocation of those rough diamonds, depending on availability.
As a result, the DTC in January invited 15 companies buying from Diamdel, largely Indian manufacturers, to apply for a DTC sight. The DTC now has 82 sightholders.
