Rough Market26/02/2021 19:40
To enhance the use of data and ensure customers create value from the rough they buy, De Beers wants to introduce a tracking program for the diamonds it supplies to sightholders. In its new supply contract the company will ask manufacturers to share the outcome of the polished yield, reports Rapaport News. This would allow the miner to verify that the rough sold to manufacturers had been polished by them, rather than sold to a third party. Additionally, it would enable source verification and market intelligence.
The particulars are not yet clear, but sightholders believe they will be asked to share details on the sizes and qualities of the polished outcome. This is all part of the new three-year agreement that will run till December 2023. Reportedly fewer dealers will receive a direct supply, as the company wants as many clients as possible to process goods into marketable polished rather than “flipping” the rough.