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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.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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