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Rough diamond viewings India by Rio Tinto Diamonds at IDTC- SNZ
This project is a direct outcome of the announcement made by PM Modi at the World Diamond Conference
By: Diamond World News Service
Oct 9 2015 3:11PM
Reference: 12042  


To give a boost to the business atmosphere of the gems and jewellery exports from India and promote the same abroad. Now, GJEPC announces the shortly to be commissioned the India Diamond Trading Centre (IDTC) - Special Notified Zone (SNZ), a joint initiative of Bharat Diamond Bourse (BDB) and GJEPC at Tower D, East Core, 1st Floor, Bharat Diamond Bourse, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051.

This project is a direct outcome of the announcement made by the Honourable Prime Minister of India, Shree Narendra Bhai Modi at the World Diamond Conference held on 11th and 12th December 2014, to start the auctioning of rough diamonds in India, directly by major mining companies of the world which would facilitate direct sourcing of rough diamonds to the small and medium diamond manufacturing members of the Council and BDB. This will be a game changer of sorts in terms of economising the operations and availability of rough diamonds to one and all across the spectrum at the best possible prices.

In less than one year after that announcement of the Prime Minister, now the IDTC - SNZ is ready in all respects including infrastructure, regulations and bookings by the major mining companies of the world like DTC, Rio Tinto, Alrosa and Dominion Diamond Corporation. A brief profile of IDTC is enclosed for your reference.

You will be happy to know that only GJEPC and BDB members can participate in IDTC - SNZ. The participants will be selected by the respective mining companies based in their profile and KYC and they will have the opportunity to participate in such auctions without any cost of registration or participation as all the necessary costs will be borne by the miners and IDTC.

The 4000 sq. ft. IDTC - SNZ facility is fully equipped with an unmatched security system and world class facilities. Representatives from the world's largest mining companies have already visited and have approved of such systems during their visit.

Based on the same, a letter of invitation and Expression of Interest from Rio Tinto Diamonds NV, Belgium, inviting GJEPC members and members of Bharat Diamond Bourse only for a viewing, has been issued. Rio Tinto Diamonds NV for the first time, intends to bring rough diamonds from its famous Argyle mine in Australia as well as the Diavik mine in Canada directly into India at the India Diamond Trading Centre - Special Notified Zone for auction viewings.

For necessary details and registering formalities one may contact Rio Tinto authority, Mr. Nilesh Pillay, Telephone: +91 (0) 22 6177 0400 or Email: Nilesh.Pillay@riotinto.com directly for the same. The date for the first IDTC viewing is 21st - 25th November 2015.

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