Recently, De Beers Group has issued a statement informing about the decision to relocate the auction head offices from Singapore to Gaborone, Botswana, where it has conducted Sightholder Sales since 2013. These transitions are components of two important 10-year sales agreements signed between the Botswana government and De Beers in 2023 and 2011 respectively.
The shift will take several months and is aimed at meeting the customers’ needs and promoting the promising advancement of Botswana’s diamond sector.
De Beers Group CEO Al Cook said that this move is anticipated and is about to bring positive changes, like facilitating cost-effectiveness. This shift contributes to centralizing the company’s global diamond trading. Moreover, miners will benefit from this by improving efficiency and deepening business relations.
Currently, auctions are stopped and will be renewed when the process is complete.
The transfer was made to optimize operations and boost Botswana’s diamond industry. De Beers expressed its full confidence in the country’s potential and the developed program of growth.
Emma Peloetletse, the permanent secretary to President Mokgweetsi Masisi, stated that the relocation of De Beers’ auctions business to Botswana signifies the country’s increasing importance as a global center for the diamond industry. She emphasized that this move will contribute to the growth of the economy and the advancement of skills development within the sector.
