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DTC to reduce diamond utilisation thresholds for SOC applicants
The registrations for SOC contract period ends April 18, midnight
By: Diamond World News Service
Apr 8 2011 2:32PM
Reference: 5896  


The DTC and DTC Botswana have decided to adjust their minimum diamond utilisation thresholds for those applying for the DTC’s Supplier of Choice supply contract period. Mahiar Borhanjoo, Executive Director, DTC Sales and Sightholder Services, said, “The feedback we received formed a compelling case to downward adjust the minimum diamond utilisation criterion since global diamond sales during 2009 were substantially lower, and we believe that we need to reflect this in a reduced threshold for that year.” She also added that,” It is vital that the selection process is fair to all companies interested in becoming a Sightholder, while maintaining our commercial position as a wholesale distributor of rough diamonds.”

The DTC informs in its release that Rough Diamond Utilisation' involves the purchase of rough diamonds and prepared rough diamonds for the purposes of processing and/or onward sale. It excludes all purchasing of polished diamonds.

The DTC requires all applicants to be able to demonstrate a minimum level of rough diamond utilisation and turnover. These minimum levels vary by country, depending on the location in which supply is required. For those applying for a DTC Sight in London, Botswana or Canada, the minimum diamond utilization threshold has been revised from $20 million in each of the last three years to $10 million in 2009. In 2010 and 2008 the limit is at $20 million.

Also, turnover thresholds are as per earlier - $30 million in each of the last three years for London, Botswana and Canada applications, $15 million in 2010 for South Africa applications and $10 million for those applying for a Namibian Sight.

Potential applicants have also been reminded to register their interest, as registrations will close in 10 days, April 18 at midnight.

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let African decide their own price and have banks to keep diamond and other of your precious resource for the generation yet unborn else a time is coming we will travel to the western world to go buy.Let every African think about the unforeseen that is to happen soon................................
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