How are diamonds supplied by DTC to sightholders?

De Beers controls its supply chain in a manner unlike that of any other industry. The company's London-based marketing arm, the Central Selling Organization (CSO), purchases the production of 13 mines owned or co-owned by De Beers in South Africa, Botswana, Namibia, and Tanzania. In 1999 this amounted to almost 45% of the world's annual output. The CSO also buys significant quantities of diamonds from Canada's Ekati mine and from Russia, which together made up an additional 25% of the world's annual diamond production.

All of these diamonds are shipped to the CSO, where they are combined, separated into 14,000 categories, and divided by the company's 500 sorters into lots called "boxes." Every five weeks De Beers holds what it calls a "sight" and distributes the boxes to its 125 partners, known as "sightholders." De Beers sets the price of its boxes in advance and determines the quality and quantity each sightholder receives. Price and quantity are nonnegotiable. The sightholders take the rough diamonds back to their factories; cut and polish them into sparkling gems; and then sell them to their wholesale and retail customers throughout the world.

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