Dec 20, 2016

IDTC-SNZ Completes One Year; All Major Miners Hosted Viewings, Over 400 Indian Cos Benefit

The India Diamond Trading Centre, the only Special Notified Zone for Viewing of Rough Diamonds (SNZ) in the country completed a year of successful operations, having hosted 27 viewing sessions with participation by all major global diamond miners. GJEPC officials said that during the last 12 months, over 400 Indian companies viewed more than two million carats of rough diamonds valued in excess of US$ 400 million at the SNZ,

Companies that displayed their rough diamonds at the IDTC include De Beers, Rio Tinto, ALROSA, Dominion Diamond Corporation and Okavango Diamond Company.

Spread across 4,095 sq. ft. at the BDB, the IDTC-SNZ is a fully equipped state-of-the-art viewing facility as per international standards with world class security systems. Post viewing, companies can make purchases by placing bids at tenders or participating in auctions online. The SNZ system offers the smaller diamond companies in India the opportunity to get direct access to rough supplies, resulting in a significant saving in costs.

The GJEPC said that over 50% of the dates available in 2017 have already been booked for further viewings.

Pic caption: ALROSA team at the IDTC-SNZ