DTC plans to extend Supplier of Choice contract by a year

The Diamond Trading Company (DTC) has announced that all its existing Sightholders will be offered a one year extension to their current three-year Supplier of Choice (SoC) contracts. The extension period will begin 31st March 2011 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 DTC supply will be able to do so from Q2 2011. Varda Shine, CEO of the DTC, said: “By extending the current ITO 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 proposed SoC extension will also apply to Sightholders currently receiving Sights in Kimberley.

DTC Botswana (DTCB) will be proposing to offer to extend its current contract by one year, which will run from 31st March 2011 to 30th March 2012, at which point it is currently envisaged that DTC Botswana will enter into new three-year SoC contracts with qualifying applicants for the 2012-2015 contract period.

Namibia DTC (NDTC) will also be proposing to offer to extend its current contract by one year, the period for which 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.

The DTC will make further announcements and provide full details of its plans and terms of the extension, in due course.