De Beers announced on 25 April 2024 it is relocating the De Beers Group Auctionsbusiness headquarters from Singapore to Botswana. The auctions business sells around 10 percent of the group’s production of rough diamonds. The relocation supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana, said the group.
According to De Beers, the decision to relocate its auctions headquarters to Gaborone reinforces its commitment to developing Botswana’s diamond industry. It also reflects confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales, the De Beers trading unit that oversees sales to sightholders and accredited buyers, moved from the United Kingdom to Botswana in 2013, and has now operated successfully in Gaborone for more than a decade. The move of the auctions business headquarters will enhance efficiency, strengthen partnerships, and support the development of key diamond industry skills in Botswana.
As the relocation process takes place over the coming months, De Beers Group Auctions will be pausing operations and sales events until the move has been completed to support a smooth transition process and to ensure that customers continue to receive the high level of service that they expect.
Al Cook, chief executive officer for De Beers, said: “I am very pleased that we are consolidating our global diamond trading business under one roof. Our Global Sightholder Sales business has successfully operated in Botswana for 11 years, so it is a logical and positive move to transfer our Auctions business to the country. This move will drive cost efficiencies and support our customers’ needs. I am confident that it will also support the further development of the vibrant diamond sector in Botswana.” (photo courtesy: De Beers)
08-05-2024
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