Lerala’s ‘lost’ diamonds go on sale
Friday, April 28, 2023 | 400 Views |
Under the hammer: The Lerala stones are being auctioned off in Belgium this week
Information uncovered by BusinessWeek indicates that Hennig has been receiving registrations for the tender of the rough diamonds scheduled for April 27 to 30 in Dubai. A similar tender process will be held in Antwerp between May 4 and 10.
“Original Lerala Diamond Mine (Pty) Limited goods—over 50,000cts of original goods from the liquidation of the assets of the Botswana-based mine, in all sizes and qualities,” reads the notice inviting registrations for the auction.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...