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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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