by eyetee | May 23, 2013 3:19 pm
Rio Tinto is changing the way it sells its rough from Canada’s Diavik Diamond Mine.
While it will still sell the majority of its production through supply agreements with designated select diamantaires, Rio Tinto says invited companies will now be able to use proprietary auction technology to buy specific rough segments outside those agreements.
“The new auction platform complements our existing business model of placing a majority of our production through supply agreements, with a more limited proportion of production made available for sale to a wider selection of customers,” said Patrick Coppens, general manager of sales for Rio Tinto Diamonds.
“The design of the platform is based on extensive customer feedback, which clearly stated our customers would value a user-friendly and time-efficient system.”
Rio Tinto says a test drive of the system in April resulted in record participation, strong sale results, and positive customer feedback.
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