Local diamond aggregation breach P25b mark

Over $3 billion (P25 billion) worth of diamonds have been aggregated in Gaborone and distributed to three countries since the relocation of the exercise from London in August last year.

The aggregation cycles, which involves blending of categories of rough diamonds like-for-like regardless of their country of origin, then splitting them into appropriate types and quantities to be sold to clients, is the first phase of De Beers' relocation of its diamond sales business to Botswana. "We have had seven aggregation activities since August last year and the process has gone smoothly. Over $3 billion worth of diamonds have been aggregated and distributed," said De Beers' executive vice president, global sightholder sales, Varda Shine in Gaborone this week.