Applicants Notified Today of Their Sightholder Status (Update 4)

The DTC has announced that it has reduced its list of Sightholders to 75 from the current 94. Among the companies that are not on the list is Premier Diamond Cutting, which announced months ago that it would not apply for a Sight in the 2008-2011 contract period.

The De Beers marketing arm said there are six new companies on the list, which means that 25 companies, over a quarter of their current clients, have lost their Sights.

Applicants for a Sight were nervous this morning, as the outcome of their applications has a great impact on the future of their businesses.

Eurostar Diamonds International was the first to announce this morning that they had been selected as a Sightholder. The company was also chosen in November to receive a Sight in Botswana from Diamond Trading Company Botswana (DTCB).

Dimexon International Holding BV, a Mumbai-based Sightholder, also confirmed to IDEX Online that it has received a Sight.

C. Mahendra Exports, also of Mumbai, has announced that they have been selected as well. According to the company, in 2007 it purchased almost $200 million of rough diamonds and plans to increase its purchases at 15 percent annually to reach $400 million by 2011.

All three are long-time Sightholders.

Other companies that announced that they are on the list are A. Dalumi and Stuller.

Two of the new Sightholders are understood to be Israeli companies; additionally, there is one from Antwerp and three from India.