[miningmx.com] – DE BEERS is to tighten rules for its customers, known as sightholders, including a requirement that they improve the transparency and quality of their financial reports and have specified levels of equity in their businesses.
The Financial Times, citing Bruce Cleaver, head of strategy at De Beers, said the plans were aimed at improving the financial sustainability of the diamond cutting and polishing industry which suffers from credit problems from time to time.
“We will get some new entrants,’ said Cleaver. “We would expect the client base to be more robust.’ An updated sightholder list is expected to be revealed in April, said the Financial Times.
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