De Beers has held its first diamond auction in Botswana following the relocation of its sales operations from Singapore, marking a significant step in consolidating its global trading activities in Gaborone and boosting operational efficiency.
The company announced the move on Friday, stating that the transfer reinforces Botswana’s status as a key player in the global diamond value chain.
A small-scale pilot auction during De Beers’ third sales cycle attracted “substantial interest,” with strong customer turnout and most parcels sold to a broad range of participants.
Following the success of the trial, De Beers will begin hosting regular auctions in Botswana for all registered customers who meet licensing requirements. The next event is scheduled for Cycle 4.
Paul Rowley, Executive Vice President of Diamond Trading at De Beers, described the results as “encouraging” and said the company anticipates increased customer participation in future auctions.
“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,” Rowley added.
