mmegi

De Beers’ sales soften to $450m

Digging deep: Debswana's mines contribute about two-thirds of De Beers' production
Digging deep: Debswana's mines contribute about two-thirds of De Beers' production

De Beers sold an estimated $450 million (P5.8bn) of rough diamonds in its first auction of the year, about 32% down from the values sold at the corresponding auction last year.

Preliminary receipts from the first auction this year, held in Gaborone were, however, higher than the $417 million seen from the last auction of 2022.

Outgoing CEO, Bruce Cleaver said sightholders, the exclusive list of buyers contracted for De Beers’ auctions, had adopted a cautious approach late last year in planning their 2023 purchases.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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