This strategic move consolidates the company’s global diamond trading activities in Botswana, streamlining operations and reinforcing the country’s role as a key hub in the international diamond industry.
The debut auction, held as part of Sales Cycle 3, functioned as a pilot event exclusively for Sightholder customers. The event attracted strong interest, with a broad turnout of bidders and a significant number of lots sold. The success of the trial run reflects both market confidence and logistical readiness following the transition.
Building on this momentum, De Beers announced that full-scale auctions for all licensed and registered customers will begin with Sales Cycle 4.
Paul Rowley, Executive Vice President of Diamond Trading at De Beers Group, expressed enthusiasm about the development: “Relocating our Auctions business from Singapore to Botswana represents a major milestone, achieved through the dedication of our team and the support of Botswana’s government. Bringing our trading operations under one roof in Gaborone not only increases efficiency but also strengthens Botswana’s position in the global diamond value chain. The response to our first auction here has been very encouraging, and we look forward to welcoming even more customers in the future.”
The move aligns with broader efforts to deepen Botswana’s involvement in the downstream diamond market, further embedding the nation at the heart of the global diamond trade.
