De Beers has officially restarted its diamond auctions, hosting its first event in Gaborone, Botswana, after a 12-month suspension. This marks a significant shift in the company’s operational footprint, relocating its auction base from Singapore—where auctions had been held since 2013—back to the heart of its production landscape.
The move aligns with De Beers’ strategy to streamline operations and further strengthen Botswana’s role as a central hub in the global diamond supply chain. Since relocating its sightholder sales from London to Gaborone in 2013, the diamond giant has been steadily consolidating its trading operations in the southern African nation, which is home to the bulk of its diamond production.
As part of its phased return, De Beers conducted a trial auction during Cycle 3 (March 31 to April 4), limited to its core sightholder customers. For Cycle 4 (May 5 to May 9), the company opened access to its broader network of 1,000 registered online customers, signaling a full-scale resumption of its auction business.
While De Beers conducts the majority of its rough diamond sales—approximately 90% by value—through long-term contracts with sightholders, about 10% is sold via auctions, which provide more flexible buying options to a broader customer base.
Paul Rowley, Executive Vice President of Diamond Trading at De Beers Group, said:
“We are thrilled to officially unite our trading operations in Botswana. This step not only supports local industry development but also enhances our global efficiency. The strong engagement in our initial auction is an encouraging sign, and we anticipate even greater participation going forward.”
This development underscores Botswana’s growing significance in the international diamond trade, bolstered by De Beers’ continued investment in the region’s economic and industrial future.
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