De Beers held its first event in Botswana after relocating its auction headquarters from Singapore to Gaborone, effectively reestablishing its auction business.

With the resumption of auction sales, De Beers conducted a small-scale trial event for Sightholder customers during Cycle 3. 

The group said the event generated “substantial interest,” with a high number of customers viewing lots and participating in the auction, resulting in the majority of lots being sold to a broad distribution of participants. 

“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,” said Paul Rowley, executive vice president of Diamond Trading for De Beers Group.

De Beers plans to host auction events for all registered customers with required licences, with the next event scheduled for Cycle 4.

The recent relocation effectively consolidated the miner’s global diamond trading activities in Gaborone, enhancing operational efficiency. It is also aimed at supporting Botswana’s position as a major player in the global diamond value chain.

“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,” Rowley remarked.