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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

De Beers’ Auction Sales ready to transition fixed forwards programme

08 december 2017
De Beers said its Auction Sales business will transition fixed-price forward contracts to core business status, after the success of the pilot programme that was launched last January.
Fixed-price forward contracts offer the opportunity for Auction Sales customers to secure guaranteed access to bespoke future supply contracts, with certainty over the price to be paid when each contract reaches maturity.
“The results from this pilot have been very encouraging, and have validated our understanding of customer needs and that the solution we have been testing meets those needs effectively,” said Auction Sales executive vice president Neil Ventura.
“Coupled with the investments we have made to offer one of the industry's most consistent product offerings, we are now ready to transition the fixed forwards programme to the next stage in its development by offering a broader range of highly consistent products over longer contract maturities, with flexible supply options up to five months into the future.”
De Beers said customers would from January 2018 experience a wider range of products being made available for one, two, three, four and five-month forward deliveries, enabling them to construct bespoke supply contracts to suit their business needs.
A total of 222 fixed-price forward contracts were sold during the pilot.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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