IDTC turns to small diamond mines in Central, South Africa

The India Diamond Trading Centre (IDTC) is looking at small diamond mines in South Africa and Central Africa to source rough diamonds, as supply is dwindling in the absence of Russian miner Alrosa in the market and the diamond city of Surat that employs a million people is facing a deepening crisis.

These small mines sell their diamonds through recognised diamond auction trading houses like Bonas-Couzyn and I Hennig in Antwerp and Dubai.

India Diamond Trading Centre has written to the commerce ministry to allow these auction trading houses to participate in the trading sessions in India so that small and medium diamond exporters can have access to these diamonds and spruce up their supply line.


"The idea is to broad-base the supply side of rough diamonds. It has become far more important in the current situation, when supply of diamonds from a major player like Alrosa has completely dried up," IDTC director Anoop Mehta said.