DiamondBuzz
De Beers Launches First Diamond Auction in Botswana after Relocation from Singapore
De Beers has conducted its first diamond auction in Botswana following the company’s strategic relocation from Singapore, aiming to streamline operations by consolidating its trading activities in Gaborone. The move, according to De Beers, strengthens Botswana’s role in the global diamond value chain.
The initial event, held as a small-scale trial during De Beers’ third sales cycle, was targeted at sightholders and reportedly drew “substantial interest.” The company noted a high level of customer engagement, with most parcels sold to a wide array of participants.
Building on the success of the trial, De Beers announced it will now begin hosting regular auctions in Botswana, open to all registered customers holding the necessary licenses. The next auction is scheduled for Cycle 4.
Paul Rowley, Executive Vice President of Diamond Trading at De Beers, described the results as “encouraging,” and added that the company anticipates “increased customer participation in the coming months.”
“It is exciting to now have our diamond trading operations officially united under one roof in Botswana, and we are confident that this move will contribute to the continuing development of Botswana’s diamond sector,” Rowley stated.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
-
BrandBuzz15 hours agoThe Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
-
BrandBuzz16 hours agoAugmont Launches SPOT 2.0: One Platform. Every Product. Efficient Business
-
BrandBuzz19 hours agoSenco Gold & Diamonds Launches “SHAPE OF YOU”- AI Application for Women’s Day Celebration
-
National News20 hours agoKushals Fashion Jewellery Curates Special Women’s Day Edit Celebrating Strength, Style and Self-Expression
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.