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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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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