The World Federation of Diamond Bourses (WFDB) has welcomed the initiative by the rough-diamond-selling arm of De Beers, the Diamond Trading Company (DTC), to explore the option of making available to the secondary market rough goods not taken up by DTC sightholders.

“If the DTC’s new approach pans out as we hope it does, it could bring some much-needed relief to the secondary market,” said WFDB president Avi Paz.

“We welcome the DTC’s decision not only because it will be good for the industry, but also because it recognises the stabilising role of the thousands of dealers and manufacturers who are not sightholders.”

Paz’s statement was a reaction to remarks made in a speech delivered by DTC MD Varda Shine, in which she stated that the company was exploring options for bringing surplus goods to the market, once every avenue of sightholder demand was satisfied.


The WFDB stated that Shine gave no indication as to the volume of the surplus rough diamond supply, but noted that there had been a substantial decline in sightholder demand. As a result, the DTC anticipated reducing the 
‘intention to offer’ to its sightholders by 50%, for the sights from January to April, although this could be assessed from sight to sight.

“It is important to remember that the broad base of the diamond industry is made up of smaller and medium-sized operators, the 
majority of whom are members of the WFDB-affiliated bourses around the world,” said Paz.

He added that by enabling these individuals 
access to rough goods, at fair and current market prices, the diamond trade would be better equipped to face the challenges confronting it. 
“Times are tough, and even with the additional 
rough available, we must proceed with caution. 
But the increased availability of rough provides 
us with more options, and that is a very good thing.”

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