IDTC Conducts First Successful Test Shipment from Rio Tinto

(IDEX Online News) – The Indian Diamond Trading Centre (IDTC) has completed its first test shipment from Rio Tinto. The test shipment has already been re-exported.

The IDTC has been set up within the Bharat Diamond Bourse, which acts as an operator of the Special Notified Zone (SNZ). IDTC is the first SNZ in the country to trade rough diamonds.

The SNZ, which has been established by the Gem and Jewellery Export Promotion Council (GJEPC) in collaboration with the BDB enables manufacturers to source roughs directly from miners, allowing them to reduce their operating costs.

The IDTC will be conducting weekly viewings and auctions of rough diamonds.

The GJEPC said in a press release that the viewing slots of IDTC are booked up until December 2016 by mining companies including De Beers, Dominion Diamond Corporation and Rio Tinto.