DTC postpones sightholder announcement

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DTC postpones sightholder announcement

By Michelle Graff

April 15, 2008

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London—The Diamond Trading Co. (DTC) is delaying publication of its latest sightholder list until the end of the month, National Jeweler has learned.

DTC spokeswoman Louise Prior confirmed on Tuesday that the names of the sightholders for the 2008-2011 contract period will be revealed on April 29.

She said the delay would give the DTC "a little extra time to explore some of the third-party verification findings."

Auditing firm Kroll subjects all companies selected as sightholders to a verification process to ensure they are compliant with the DTC's Best Practice Principles.

Prior said she could not comment specifically on how many firms might be cut, or the names of companies involved in further verification.

But, she said, if a company is cut from the final sightholder list, "they will not be replaced by another applicant."

The DTC revealed in December that its latest sightholder list included a total of 75 companies, down from 93.

Counting those companies with sights in Namibia and Botswana, the number of worldwide sightholders now stands at 79.

Editor's note: For earlier developments in this story, see DTC sightholder cuts run deep, but no major impact for U.S. retailers.

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