diamond giant signed an agreement on sales and marketing

As reported, the company De Beers predicted decrease in the available volume of rough diamonds to sightholders proposals in the upcoming period action procedure called "intention to make an offer» (Intention To Offer, ITO), compared with its forecast of ITO on 2016-2017.
According to the agency the Rapaport, sightholders have calculated that, in accordance with the new procedure of ITO, which will be effective on the following website in April, dedicated to their volumes will be 20 percent lower than the previous site.
At De Beers, there are about 80 major clients on international websites, which are held 10 times a year in Botswana.
"Most of all it will affect the international transfer, as part of its commitment program beneficiation our producer country share availability of our products has been increased for her, which is distributed through these channels", - quotes Rapaport words representative of De Beers David Johnson (David Johnson).
This decrease was allegedly caused by the new commitments De Beers in relation to Namibia and a similar arrangement already existing with Botswana, where the government takes 15% of the produced there diamonds for sale through the Okavango Diamond Company.
In May last year, the diamond giant signed an agreement on sales and marketing to Windhoek, which paved the way for the allocation of 15 percent of the annual production of the state-owned Namdia diamonds.
As part of this transaction, De Beers has also increased the number of products that it provides to its sightholders, located in Namibia.
Johnson said that the reduction in supply of raw materials for the sightholders will vary by customer location and on whether it is a participant in programs aimed at preserving the diamond production in Botswana, South Africa or Namibia.
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