De Beers’ sales reach P6.7bn

Shining bright: De Beers sales ticked up at its last auction held in Gaborone. The diamond giant is engaged in talks with the Government of Botswana for a new sales agreement and renewal of its mining licences. Botswana producers two-thirds of De Beers' annual rough diamond output
Shining bright: De Beers sales ticked up at its last auction held in Gaborone. The diamond giant is engaged in talks with the Government of Botswana for a new sales agreement and renewal of its mining licences. Botswana producers two-thirds of De Beers' annual rough diamond output

De Beers recently sold an estimated $495 million (P6.7bn) of rough diamonds in its second auction of the year, a nine percent increase on the first auction held in January.

The performance for the second auction of the year is however 24% lower than the values sold at the corresponding auction last year, a trend that largely reflects stronger than average pricing and demand last year. New CEO, Al Cook said demand continued steadily for rough diamonds in line with the group’s expectations for sales as the year progresses.

He added that De Beers was aware that sightholders, the exclusive list of buyers contracted for De Beers’ auctions, planned more of their purchases for later in 2023, given the economic uncertainty when they were taking their planning decisions at the end of 2022.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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