De Beers is relocating its auctions headquarters from Singapore to Botswana as the group streamlines its operations and prepares for further development of Botswana’s diamond sector.

The decision likewise reinforces De Beers’ commitment to developing Botswana’s diamond industry and reflects confidence in the country’s capabilities and growth agenda, the company said. Specifically, it is aimed at enhancing efficiency, strengthening partnerships and supporting the development of key diamond industry skills in Botswana.

De Beers Group Auctions will pause operations and sales events over the coming months until the relocation is complete. De Beers earlier transferred its Global Sightholder Sales from the United Kingdom to Botswana in 2013.

Al Cook, CEO for De Beers Group, said moving the auctions business to Botswana is part of De Beers’ plan to consolidate its global diamond trading business under one roof. He noted, “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.”