De Beers held its first auction in Botswana following a relocation from Singapore, a move that unites its trading activities in Gaborone and enhances operational efficiency.
The transfer also supports Botswana’s position as a major player in the global diamond-value chain, De Beers said Friday. A small-scale trial event for sightholders the company hosted during its third cycle generated “substantial interest,” it noted. That auction had a high number of customers viewing lots and participating, selling the majority of parcels to a broad range of participants.
Following the test, De Beers will begin scheduling regular auctions in Botswana for all registered customers with required licenses, it said. The miner’s next event will take place in Cycle 4.
Paul Rowley, executive vice president of diamond trading for De Beers, called the results of the first auction after the relocation “encouraging,” adding the miner was expecting “increased customer participation in the coming months.”
“It is exciting to now have our diamond trading operations officially united under one roof in Botswana, and we are confident that this move will contribute to the continuing development of Botswana’s diamond sector,” he commented.
Image: A rough diamond. (De Beers)
