DE BEERS RELOCATES AUCTIONS HEADQUARTERS FROM SINGAPORE TO BOTSWANA

De Beers Group today announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. 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.

De Beers Group’s 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 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.

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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 Group, 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.”

Speaking on behalf of the Government of Botswana, Emma Peloetletse, Permanent Secretary to the President stated: “The relocation of De Beers’ Auctions business to Botswana underscores Botswana’s growing role as a global hub for the diamond industry and will further enhance our economy and bolster skills development in the sector.”