The De Beers Diamond Shocker

source: Mmegi
By Monkagedi Gaotlhobogwe
Staff Writer

A team of Botswana government officials who left Gaborone on Monday last week to discuss prospects of the diamond industry with De Beers in London, were shocked by the news that De Beers might not transfer its DTC diamond aggregation to Gaborone next year as formerly planned.

De Beers made the announcement on Tuesday, two days before the diarised Thursday meeting with Botswana government officials. Government officials said on Friday that they are waiting for the Botswana delegation to return from London today to brief them on the latest developments.

Aggregation involves the blending of categories of rough diamonds like-for-like, regardless of their country of origin. These are then split into the appropriate types and quantities to be sold to clients or sight holders.

Since the renegotiation of the De Beers sales agreement for the [continue reading]

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