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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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About De Beers Group
Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers London and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services and a wide range of diamond sorting, detection and classification technology services. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach to sustainability that underpins our efforts to create meaningful impact for the people and places where our diamonds are discovered. Building Forever focuses on three key areas where, through collaborations and partnerships around the globe, we have an enhanced ability to drive positive impact; Livelihoods, Climate and Nature. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.