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)
