De Beers sightholders share stage with USbased Martin with Rapaport

  • | Wednesday | 11th July, 2018

SURAT: It seems an open war between the US-based Rapaport Group chairman, Martin Rapaport and the world’s largest diamond mining company, De Beers, has not affected the diamantaires, especially the De Beers sightholders in Surat and Mumbai.On June 3, Rapaport had openly attacked India and the De Beers during the JCK Las Vegas breakfast conference. “I will make sure it happens,” he said, and added he hopes to prevent De Beers from operating in the United States. In a letter issued to its clients, De Beers states: “In relation to programmes such as Gemological Institute of America’s (GIA) ‘Mine to Market’ (M2M), or other downstream entities’ initiatives seeking to make provenance claims. Out of the annual sales of more than $5.5 billion worth of rough diamonds, over 60 per cent is bought by the Indian companies.Rapaport has also gone out public to oppose De Beers for his new venture into the synthetic diamond business. We have declined all such requests.

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