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De Beers Rolls Out ‘Diamonds from DTC’ Origin Program
Sightholders now will be able to refer to rough stones from the company as “DTC diamonds.”
London—De Beers has officially launched its provenance program, allowing sightholders to refer to the diamonds they buy from the company as “DTC diamonds.”
The diamond miner confirmed earlier this year that the use of DTC diamonds would begin after the second or third sight, relaxing a long-standing rule that barred sightholders from attaching a De Beers name to their goods in any way. They were permitted only to say the diamonds came from one of the four countries where De Beers mines: Botswana, South Africa, Namibia or Canada.
DTC, or Diamond Trading Co., was the name formerly used for De Beers’ sales and marketing arm. The DTC was established in 1934 but the name was retired, so to speak, a few years ago when De Beers Group began tagging everything “De Beers.” The DTC became De Beers Global Sightholder Sales.
Beginning with the third sight of 2019, running now through April 5, sightholders and accredited buyers will be able to refer to diamonds purchased from the sights as “diamonds from DTC” or “DTC diamonds” along the supply chain.
In Canada, they will use “diamonds from Diamond Trading Company” instead, De Beers said.
Trade members also will be able to use the “diamonds from DTC” provenance claim across the value chain down to the consumer level, subject to meeting certain criteria.
The name “De Beers,” however, is still off-limits to the trade, as the company explained to National Jeweler in February.
In accordance with the change, De Beers relaunched the DTC.com website, which provides transparency information on each of the mines of origin in Canada, Botswana, Namibia and South Africa, it said.
“We are proud of where our diamonds are discovered, how we recover them responsibly and the role our activities play in building thriving communities,” De Beers CEO Bruce Cleaver said. “By enabling our customers to share the source of origin of our diamonds, we hope to drive further transparency throughout the diamond value chain.”
De Beers’ move is just one of several efforts from the industry to drive transparency in the diamond mining sector.
In January, Tiffany & Co. rolled out its “Diamond Source Initiative,” providing the country of origin for most “individually registered” diamonds—those that are 0.18 carats or larger and have been laser-engraved with “T&Co.” and a unique serial number.
The GIA also just announced that it will begin offering a Diamond Origin Report service
To be eligible, customers will be required to submit the original rough diamonds and resulting polished diamonds to GIA for analysis so they can be matched, and to confirm the origin information provided by the participating miners.
The GIA’s new Diamond Origin Report will include the country of origin, the 4Cs for each diamond and a report number inscription.
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