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The Blog

Home The BlogDe Beers moves Diamond Sales Hub to Botswana


De Beers moves Diamond Sales Hub to Botswana

Dimond giant De Beers – announced its rough diamonds sales unit in Hatton Gardens, London will be moving to Botswana. By 2013 De Beers is set to move all of its rough diamond sorting trading division to be based in Botswana - the world’s leading producer of diamonds. The 10-year agreement with the Botswana Government will move around 370 staff from the London Office to the capital of Botswana, Gaborone. The new agreement will see a 50-50 joint sales venture between De Beers and Botswana for diamond trading and manufacturing operations worldwide. De Beers has long been at the centre of the world trade in rough Diamonds and produces more than a third of the world's diamonds. De Beers have had their sales hub in London since 1888, so it will be a big move for the company. The move will generate many positive impacts for Botswana with an increase in jobs and the countries revenue. The move could transform Botswana into one of the world’s leaders in manufacturing and trading diamonds De Beers chairman Nicky Oppenheimer stated: "This is a once in a generation opportunity for Botswana and De beers to shape the future of the diamond industry"