Press Release: Competition: Commission closes investigation in rough diamonds sector following improvements to De Beers’ distribution system

The European Commission has closed an investigation into the rough diamond market, on the basis of increased transparency in De Beers' distribution arrangements, known as Supplier of Choice (SOC). At the Commission's request, De Beers, the world's largest rough diamond producer, has revised the mandate for the Supplier of Choice Ombudsman, who safeguards the objectivity of the SOC distribution system. The revised mandate of the Ombudsman will allow enhanced transparency in the selection of De Beers' customers ("sightholders") and in the allocation of diamonds and will therefore enhance competition on the worldwide rough diamond market. This complements an earlier decision addressed to De Beers in 2006 (see IP/06/204) to end rough diamond purchases from its principal competitor ALROSA by the end of 2008.