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The transfer of De Beers Diamond Trading Company (DTC) from London to Gaborone is well under way and couldn’t come sooner for Botswana. The move marks exciting times for the southern African nation and is set to be a catalyst for much-needed economic diversification and, hopefully, significant job creation.
De Beers Keeps Prices Stable The Diamond Trading Company (DTC) February sight ended Wednesday with an estimated value of $600 million. The De Beers distribution unit kept prices stable with minor adjustments on specific items. The sight one year ago this month was estimated at $690 million.
The DTC’s “dynamic distribution” system for rough diamonds will let it continuously assess the manufacturing industry and allow it to reallocate rough supplies and bring strong performers on board as Sightholders even before the current Sightholder contract period expires in 2015, said DTC CEO Varda Shine.
Some Price, Assortment Adjustments The Diamond Trading Company (DTC) opened its first sight of 2012 with an estimated value of $650 million, as the De Beers distribution unit adjusted prices but changed the assortments presented.