De Beers Announces 2020 Sight Schedule

RAPAPORT… De Beers has released the dates of the 10 sights it will
hold in Gaborone, Botswana, next year. The miner sells around 90% of its rough
at those sales, with the rest available at auctions.

The January sight will be the first in De Beers’ new
intention-to-offer (ITO) period, which is switching to a calendar-year format.
Prospective long-term buyers, or sightholders, tell De Beers how much rough
they will require during the period — their “intention to offer” — with the
miner subsequently informing them how much they will receive.

The company also announced auction dates for the first
five sales cycles of 2020.

Sight dates

• Sight 1: January 20 to 24
• Sight 2: February 24 to 28
• Sight 3: March 30 to April
  3

• Sight 4: May 4 to 8
• Sight 5: June 15 to 19
• Sight 6: July 27 to 31
• Sight 7: August 24 to 28
• Sight 8: September 21 to 25
• Sight 9: November 2 to 6
• Sight 10: December 7 to 11

Auction dates

• Cycle 1: January 2, 14 and
  15

• Cycle 2: February 6, 19 and
  20

• Cycle 3: March 12, 18 and
  19

• Cycle 4: April 16, 22 and
  23

• Cycle 5: May 21; June 3 and
  4

Image: De Beers’ Orapa mine in Botswana. (Ben Perry/Armoury Films/De Beers)