Gaborone — Botswana's diamond trade is on the rise despite industry uncertainty over efforts to sanction Russian stones. De Beers has relocated its auctions headquarters from Singapore to Botswana, while the secretariat of the Kimberley Process, a trade regime that certifies rough diamond exports to eliminate trade in conflict gems, also moved to the African nation.
"The auction platform coming across, it will bring some additional customers and also auction sales will also enable us sell to small players and perhaps some Botswana nationals will be able to register and engage in that platform. That will be very exciting from that perspective," he said. The relocation of De Beers' auctions office coincides with the Kimberley Process secretariat commencing its operations in Botswana.
Botswana's minister of minerals, Lefoko Moagi, meanwhile, hailed the establishment of the Kimberley Process secretariat in Gaborone.