De Beers Green-Lights Changes to Disclosure Rules

RAPAPORT... De Beers has approved plans to allow sightholders to referto its goods as "DTC diamonds," a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its ban on buyers identifying diamonds as DeBeers goods further down the supply chain. Until now, sightholders could onlydisclose their supply from De Beers came from one of four countries in whichthe company operates - Botswana, Canada, Namibia and South Africa. Under the new system, they still won't be able to use the"De Beers" name, since it is preserved for the Forevermark and De BeersJewellers consumer brands. The company intends to implement the changes during thefirst quarter, the spokesperson said. It will also launch DTC.com, a website dedicatedto providing information about its mines and the provenance credentials of DTCdiamonds.Image: Diamond sorting in Botswana. (De Beers)