Diamond Trading Company (DTC) is the sale and distribution of rough diamonds from De Beers Family of Companies. DTC sort, appreciate, and sell about 75% of the world's crude diamonds by value. The DTC has a combination of wholly owned business operations and joint ventures in South Africa (DTCSA), Botswana (DTCB), Namibia (NDTC) and the United Kingdom (DTC).
DTC sells diamonds sourced mainly from De Beers mining operations in South Africa and Canada, and through its partnerships with the governments of Botswana, Namibia and Tanzania. Sorters in London, Kimberley, Windhoek, and Gaborone sort this diamond into about 12,000 different categories based on size, shape, quality, and color. The DTC client is known as a Sightholder, and the selection process is based on the results of the Sightholder Choice (SoC) app and assessment app.
DTC sales in 2009 were $ 3.84 billion. DTC also develops and manufactures diamond technology, which ensures consistency of DTC rough diamond blends for its Sightholder clients.
DTC Shareholders must comply with the De Beers Best Practices Principles (BPPs) which establish objective standards of behavior in three key areas - Business responsibility; Social responsibility; Environmental responsibility. BPP ensures that the De Beers of Companies, DTC Sightholder, and applicable third parties operate with specific ethical, legal, professional, social and environmental standards. The DTC also requires that its clients commit 100% to the Kimberley Process.
The Kimberley process begins when South African diamond producing countries meet in Kimberley, South Africa, in May 2000 to discuss ways to stop the 'conflict diamond' trade and ensure that diamond purchases do not fund violence or terrorism. In December 2000, the UN General Assembly adopted an important resolution supporting the establishment of an international certification scheme for rough diamonds. In November 2002, negotiations between the government, the international diamond industry and civil society organizations resulted in the creation of the Kimberley Process Certification Scheme (KPCS). KPCS stipulates the requirement to control the production and trade of rough diamonds. KPCS became effective in 2003.
Video Diamond Trading Company
See also
- Diamond
- Diamonds (gemstones)
- Kimberley Process
- Diamonds as an investment
Maps Diamond Trading Company
References
Related links
- De Beers Group - Sales and Distribution
- De Beers Group - View and Vision
- De Beers Group - De Beers Report
- Diamondfloor - Diamond Trading Company
- UN General Assembly - GA/10011
- World Diamond Council
Source of the article : Wikipedia
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