Delegation from Rio Tinto Diamonds visits IDTC

The India Diamond Trading Centre (IDTC) located within the Bharat Diamond Bourse, hosted a delegation from Rio Tinto. The delegation interacted with committee members of GJEPC and BDB on various current issues and opportunities to work together.

The delegation was led by Simon Trott, MD (Diamonds, Salt & Uranium) making his first trip to the Bourse since taking on the new role. During the talks, the leads of the Indian trade bodies and organisations brought forth some key issues, including generic diamond promotion, the advantages of the IDTC SNZ and its purpose to support MSMEs gain direct rough diamond supplies. Finance, rough price stability, synthetic diamonds were also discussed.

The Indian diamantaires requested the mining companies to maintain stable prices, and indulge in greater R&D initiatives to ensure synthetic diamonds do not pose a threat the natural diamond trade. The diamantaires offered a tie-up with GII in Mumbai and for joint R & D efforts for faster and cheaper detection technology, as per reports.

GJEPC also encouraged Rio Tinto to conduct similar platforms like its banking seminar, to enable the industry to create a better financing environment for the diamond industry.