De Beers Group has announced that its Auctions business has resumed operations following the successful relocation of the business’s headquarters from Singapore to Gaborone. The completion of this relocation unites De Beers Group’s global diamond trading activities in Gaborone, enhancing operational efficiency and supporting Botswana’s position as a major player in the global diamond value chain.
With Auctions sales now being re-established, De Beers Group ran a small-scale trial event for Sightholder customers during Cycle 3. The event generated substantial interest, with a high number of customers viewing lots and participating, resulting in the majority of lots being sold to a broad distribution of winning participants.
Following the successful test event, De Beers Group will begin staging auction events for all registered customers with required licences, with the next event to take place in Cycle 4.
Paul Rowley, Executive Vice President of Diamond Trading for De Beers Group, said: “The successful relocation of our Auctions business from Singapore to Botswana is testament to the hard work of De Beers’ Diamond Trading team and the authorities in Botswana.
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. The positive participation and results from our first auction event following the relocation are encouraging, and we look forward to increased customer participation in the coming months.”
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