De Beers Transfers Rough Diamond Sales to Gaborone

De Beers, the leading global diamond company, relocated its rough stone sales operation from London to Gaborone. This move was part of a 2011 agreement between De Beers and the Botswana government to transfer sorting and selling of diamonds to the African country. The decision aimed to boost Botswana's economy by creating jobs and fostering the local diamond industry. The move also aligned with De Beers' commitment to supporting the development of diamond-producing nations. The relocation had a significant impact on Botswana's economy, as it increased the country’s role in the global diamond market and provided opportunities for local businesses and workers. By moving the operation closer to where the diamonds are mined, the process became more efficient and cost-effective. This shift also signaled a shift in power within the diamond industry, with Botswana gaining more control over its natural resources. Overall, the move of De Beers' rough stone sales operation to Gaborone marked a milestone in the partnership between the company and Botswana, showcasing a collaborative effort towards sustainable economic development and empowerment in the region. #DeBeers #Gaborone #DiamondIndustry #BotswanaEconomy