DTC sightholders closely following developments at Anglo American

SURAT: Diamond Trading Company (DTC) sightholders or clients in India are closely following the developments at Anglo American that owns the world's biggest diamond mining company, De Beers, following the resignation of its CEO, Cynthia Carroll on October 26.
Industry sources said Carroll has resigned as chief executive of Anglo American and will consequently relinquish her role as De Beers chairman.The resignation comes less than one month after Carroll was appointed chairman of De Beers after she oversaw Anglo American's acquisition of the Oppenheimer family's 45 percent stake in the diamond mining company. The acquisition closed earlier this year raising Anglo American's stake in De Beers to 85 percent.
Anglo American stated that Carroll will stay in her leadership role until a successor has been found and settled into the position. The process of recruiting Carroll's successor will now commence and will be led by John Parker, the chairman of Anglo American, who will also support the transition period.
The DTC sigtholders in the world, mainly in India are worried after the De Beers announced 31 per cent decline in its third quarter rough diamond production and an overall 20 per cent decline for the first nine month in 2012. The decline in the diamond production is set to affect the supplies in the coming months.
"We are closely following the developments at Anglo American. Caroll, who was appointed as De Beers chairman in early October, will relinquish the post. The smooth working of DTC largely depends on the chairman of De Beers" said a DTC sightholder asking anonymity.