ODC follows De Beers into supply contracts

Currently, the fledgling state-owned diamond company only sells through auctions.  “We recognise the value to the market of committed supply arrangements and it has always been our intention to introduce fixed term contracts alongside

our regular auction sales. We intend to analyse various fixed term options and we will endeavour to introduce our fixed term contracts in 2014,” Deputy Managing Director Marcus ter Haar told Mmegi. In 2013, the company is entitled to 12% of rough supply from Debswana, the joint venture between De Beers and the Botswana government,  which is expected to increase to 15% by 2016.