Industry News by Nemesis

Kiran Exports Gains De Beers Supply

November 22, 2016

Kiran Exports received De Beers ‘accredited buyer’ status, enabling it to buy the mining company’s rough diamonds following its split from Kiran Gems.

The new status gives the Antwerp-based trading company access to ‘ex-plan’ goods that will be made availability for the current contract period that ends March 30, 2018. While accredited buyers don’t enjoy regular guaranteed supply from De Beers, they can buy ex-plan, which is excess supply De Beers makes available over and above what it agreed to supply sightholders. 

Kiran Exports operates as an independent entity after Kiran Gems group announced a restructuring, with Vimal Lakhani continuing as director of the Belgian business. Mumbai-based Kiran Gems remains a full De Beers sightholder.

 

Source: Rapaport

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