Ways of normalising business relations with the US are being sought
by De Beers chairperson Nicky Oppenheimer.
While the world’s biggest diamond company has, in the past,
been resigned to accepting the US restrictions on it doing business
in the US, Oppenheimer wants a solution if one is possible.
This follows a legal audit aimed at finding a structure acceptable
to the US, especially given that America now represents 48% of the
South African company’s market.
If the company succeeds – “and that is still a very big
if” – Oppenheimer promises that the American
diamond-cutting and retail industries aball drive valve seat cutter chinand the American consumer
will benefit.
“A legal audit with regard to competition was completed to
position the company so that it is legally robust and structured to
operate in the US.
“In the past, when someone mentioned the US, we did not give
it any thought. We knew we could not do business in the US.
“Tiron ore beneficiation processes of washinghe legal audit has provided no great clarity that we could
or couldn’t do business in the US, but we want to look at,
examine it, and try to find lateral ways which would allow us to
structure ourselves to operate in the US,” he says.
Pleasingly, Oppenheimer has also promised to improve disclosure
which he says will become clearerjaw crusher price in brazil in the annual report in which
mineral resources and reserves will be disclosed, as will
dollars-per-carat information.
“Not enough information was given in the past which caused
confusion, now we hope that too much information will not have the
same effect,” he says.
He sees demand-increasing opportunities on the back of the record
1999 programme.<sale second hand jaw crusher johannsburgbr />
“Consumer awareness of diamonds is higher than ever before.
Diamonds are the in thing,” Oppenheimer says.
The new marketing initiative for the millennium proved what the
company always believed; that diamonds are addictive and that those
who bought in the new millennium are a fertile ground and will want
to buy again.
Emecrusher conveyor belt supplier in indiargence of new markets in India and China continues to encourage,
as do the signs of recovery in East Asia.
China is now the third-largest market for diamond jewellery.
“All we really need now is for Japan to turn around,”
he says.
Not that the market has been anything but booming, with the Central
Selling Organisation achieving its highest yearly sales ever at
$5,2-billion – and the goal is set to achieve at least the
same sales level in 2000.
De Beers’ own earnings – “I like to concentrate
on these, forgive my bias” – are up 83% to
$686-million, despite the loss of Anglo American dividend.
Positively, the value of diamond stock has lowered to just under
$4-billion and the Diamond Trading Company became the
company’s sole preserve – as could Venetia should ICH
accept the offer for the final 12,5% of Saturn.
Implementation of a strategic plan will see De Beers working
towards becoming the supplier of choice, the preferred supplier and
no longer market custodian –”something that was never a
very satisfactory position”.
On conflict diamonds, Oppenheimer is pleased that De Beers’
actions have been applauded by South Africa, UK, US and United
Nations.