Apr 02, 2019

De Beers to Introduce “Diamonds From DTC” Provenance Claim

De Beers Group has announced that it will soon introduce a “Diamonds from DTC” source of origin claim (except in Canada where “Diamonds from Diamond Trading Company” will be the licensed usage) for all the diamonds that it sells.    

“The claim will serve as a factual statement about provenance that Sightholders and Accredited Buyers can use for diamonds purchased from Sights,” De Beers said. The move was being made “to support the diamond trade in providing enhanced transparency regarding diamonds purchased from its Sight sales”, the Company explained.

This will be put into practice with regards to diamonds purchased from the third Sight of 2019 onwards. De Beers said that, subject to entering into a licence agreement, Sightholders and Accredited Buyers will be able to “apply the claim to their Sight-sourced diamonds and pass it on to their customers along the value chain”.

Further, provided certain set criteria are met, trade participants will be able to use the “Diamonds from DTC” provenance claim across the value chain down to the consumer level.  They will thus be able “to provide assurance on its validity through certifying the claim under the Responsible Jewellery Council standards, or through an independent third-party audit”, the Company added.

“The “diamonds from DTC” provenance claim will offer greater significance than many other industry provenance claims, as it not only states corporate provenance, but is also supported by the provision of sustainability performance and transparency information on each of the mines of origin via a refreshed www.dtc.com website,” De Beers asserted.

Bruce Cleaver, CEO, De Beers Group, commented: “We are proud of where our diamonds are discovered, how we recover them responsibly and the role our activities play in building thriving communities. By enabling our customers to share the source of origin of our diamonds, we hope to drive further transparency throughout the diamond value chain.”