De Beers Group supports trade in providing enhanced transparency with “Diamonds from DTC” provenance claim
April, 2019 – De Beers Group announced that it is to support the diamond trade in providing enhanced transparency regarding diamonds purchased from its Sight sales by introducing a “diamonds from DTC” source of origin claim*.
The claim will serve as a factual statement about provenance that Sightholders and Accredited Buyers can use for diamonds purchased from Sights.
For diamonds purchased from the third Sight of 2019 onwards, 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.
In turn, subject to meeting certain criteria, trade participants will be able to use the “diamonds from DTC” provenance claim across the value chain down to the consumer level, and will 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 “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.
Bruce Cleaver, CEO, De Beers Group, said: “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.”
More information on “diamonds from DTC” and the provenance claim is available on www.dtc.com.
Note: *In Canada, the term “diamonds from Diamond Trading Company” will be licensed for use instead of “diamonds from DTC”.