• Latest
  • Trending

De Beers making it harder for diamond dealers to join supply chain

April 8, 2015
CEMCO Celebrates its 60th Anniversary

CEMCO Celebrates its 60th Anniversary

August 15, 2022
Air Compression, Dust Suppression and Piping Technologies to be Showcased at Electra Mining Africa 2022

Air Compression, Dust Suppression and Piping Technologies to be Showcased at Electra Mining Africa 2022

August 15, 2022
Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed

Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed

August 12, 2022
Sandvik Launches AutoMine® Mapping Solution, Next Generation Automation Solution

Sandvik Launches AutoMine® Mapping Solution, Next Generation Automation Solution

August 12, 2022
Prisma Helps Change Narrative on Gender Bias in the Mining Sector

Prisma Helps Change Narrative on Gender Bias in the Mining Sector

August 11, 2022
Level 1 B-BBEE is Big Step in FLSmidth’s Transformation Journey

Level 1 B-BBEE is Big Step in FLSmidth’s Transformation Journey

August 11, 2022
Micromine Signs 3-Year Micromine Pitram Software Solution Agreement with AngloGold Ashanti

Micromine Signs 3-Year Micromine Pitram Software Solution Agreement with AngloGold Ashanti

August 10, 2022
The Economics of Workplace Safety

The Economics of Workplace Safety

August 10, 2022
Govt’s Energy Action Plan Sends a Strong Message to Industry and Investors

Govt’s Energy Action Plan Sends a Strong Message to Industry and Investors

August 8, 2022
Golden Age for Africa’s National and Regional Energy Transition

Cummins Offers Ideal Power Ecosystem for Independent Power Producers

August 5, 2022
Female Drill Rig Operators Pave Way at Kumba Iron Ore

Female Drill Rig Operators Pave Way at Kumba Iron Ore

August 5, 2022
SAIW Champions Africa School of Nuclear Power Excellence

SAIW Champions Africa School of Nuclear Power Excellence

August 4, 2022
Africa Mining Brief
No Result
View All Result
  • Login
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
MAGAZINE ARCHIVE
ADVERTISE
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
No Result
View All Result
Africa Mining Brief
No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
Home Company Profiles

De Beers making it harder for diamond dealers to join supply chain

gap by gap
April 8, 2015
Reading Time: 1 min read
0

De Beers is fine-tuning details of a set of new conditions for companies seeking to join its group of customers known as “sightholders.”

RELATED POSTS

Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed

Micromine Signs 3-Year Micromine Pitram Software Solution Agreement with AngloGold Ashanti

Female Drill Rig Operators Pave Way at Kumba Iron Ore

According to FT.com (subs. required), the diamond giant — which sells $6 billion of unpolished gems a year and is the world’s largest supplier by value — wants traders to hold a specified proportion of equity in their businesses, so they are less reliant on bank borrowing.

De Beers, which last revised its sightholder contracts in 2011, will give companies time to make changes to their accounting practices. But sightholders unwilling or unable to do so will lose their status.

The move seeks to direct gems to the most financially sound purchasers and make the business more transparent, echoing other signs that the diamond industry is starting to modernize.

The introduction of online trading, where dealers can buy and sell parcels of gems worth millions online, is providing real-time pricing data, and represents a challenge to the old, more secretive ways of doing business, while banks that lend to the industry are demanding a more corporate approach from diamond traders and manufacturers.

Anglo American (LON:AAL) bought Oppenheimer family’s 40% ownership in De Beers for $5.1 billion in 2012, increasing its stake to 85% and ending the dynasty’s 80-year ownership. Botswana controls the rest of the business, founded by the British imperialist Cecil Rhodes.

ADVERTISEMENT
ShareTweetPin
gap

gap

Related Posts

Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed
Mining News

Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed

August 12, 2022
Micromine Signs 3-Year Micromine Pitram Software Solution Agreement with AngloGold Ashanti
Mining News

Micromine Signs 3-Year Micromine Pitram Software Solution Agreement with AngloGold Ashanti

August 10, 2022
Female Drill Rig Operators Pave Way at Kumba Iron Ore
Mining News

Female Drill Rig Operators Pave Way at Kumba Iron Ore

August 5, 2022
SAIW Champions Africa School of Nuclear Power Excellence
Mining News

SAIW Champions Africa School of Nuclear Power Excellence

August 4, 2022
First Ever Battery-Electric Surface Drill Rig Field Tested in Swedish Quarry
Mining News

First Ever Battery-Electric Surface Drill Rig Field Tested in Swedish Quarry

July 29, 2022
One Year Zero Harm Achieved at Kumba Iron Ore’s Sishen Mine
Mining News

One Year Zero Harm Achieved at Kumba Iron Ore’s Sishen Mine

July 28, 2022
Next Post

Reducing Reworks

Antaira Technologies’ Releases New Wireless Access Point/VPN/Router

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

April – June 2022 Magazine

CEMCO Celebrates its 60th Anniversary
Press Releases

CEMCO Celebrates its 60th Anniversary

by Dennis Ayemba
August 15, 2022
Air Compression, Dust Suppression and Piping Technologies to be Showcased at Electra Mining Africa 2022
Press Releases

Air Compression, Dust Suppression and Piping Technologies to be Showcased at Electra Mining Africa 2022

by Dennis Ayemba
August 15, 2022
Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed
Mining News

Installation of Refrigeration and Air-cooling systems for Venetia Diamond Mine Underground Project Completed

by Dennis Ayemba
August 12, 2022
Sandvik Launches AutoMine® Mapping Solution, Next Generation Automation Solution
Press Releases

Sandvik Launches AutoMine® Mapping Solution, Next Generation Automation Solution

by Dennis Ayemba
August 12, 2022
Prisma Helps Change Narrative on Gender Bias in the Mining Sector
Commentary

Prisma Helps Change Narrative on Gender Bias in the Mining Sector

by Dennis Ayemba
August 11, 2022
Africa Mining Brief

© 2021 African Mining Brief - Powered By Clivo.

Navigate

  • About AMB
  • Advertise
  • Announcement
  • Media Kit
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases

© 2021 African Mining Brief - Powered By Clivo.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In