De Beers Plans Introduction of Forward Sales Contracts

Bloomberg reported that De Beers, which is owned by Anglo American plc (LSE:AAL), plans to bring in forward sales contracts for people buying at its rough diamond auctions. That will allow buyers to decide the volume of goods they want to purchase over a particular period.

As quoted in the market news:

About 10 percent of the company’s rough diamonds are sold through its auction platform, De Beers said. The auction product range includes special and exceptional stones and differs from diamond boxes the company sells to prequalified buyers, or sightholders, at sales events known as sights.

Click here to read the full Bloomberg report.