De Beers Names Tiffany Unit, Pluczenik, Suashish as Buyers
The trading arm of De Beers, the world’s largest diamond producer by value, named Tiffany & Co. (TIF) unit Laurelton Diamonds, Pluczenik Diamond Co NV and Suashish Diamonds Ltd. (SAD) among the 75 companies it selected to sell rough diamonds for the next three years.
Diamond Trading Co., the London-based company moving its sorting and trading to Botswana by late 2013, increased the number of buyers with operations in Botswana to 21 from the 16 that qualified during 2008 to 2011, according to DTC’s website.
De Beers’ trading arm holds 10 auctions a year, attended by prequalified buyers, or sightholders, that buy rough diamonds produced at De Beers’ mines in South Africa, Botswana and elsewhere. Sales of unpolished and uncut diamonds by DTC rose to $6.5 billion last year from $5.1 billion a year earlier.
Steinmetz Diamond Group’s Diacor International Ltd., Israel’s Leo Schachter Diamonds Ltd. and Mumbai-listed Shrenuj & Co. Ltd. are also buyers, according to the website.
Anglo American Plc (AAL) plans to take control of the diamond producer in a $5.1 billion deal to boost its stake to as much as 85 percent from 45 percent. De Beers, which gets about two- thirds of its output from Botswana, produced 31.3 million carats of the gems last year. A carat is equal to a fifth of a gram.
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