Photo Courtesy of De Beers
The shift is seen in a positive light by some as a way for De Beers to not only have ease of access to gems and mining, but also to their diamond sorting and aggregation businesses which have already been relocated to Gaborone. Others see this as the end of not only a legacy, but as a potential future challenge to the company, noting that tying their business directly with the Botswana mines, could be detrimental considering they also have mines in Namibia, South Africa and Canada. These difficulties come in addition to problems that may be prevalent with visas, flights and hotels in a developing country.
“The Botswana government did not come to De Beers and say please transfer your business. The Botswana government said we would like you to sell the Botswana diamonds here,” said Varda Shine, head of De Beers’ Global Sightholder Sales. This week’s diamonds sales will be the last for De Beers in London.