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De Beers Launches First Diamond Auction in Botswana after Relocation from Singapore

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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.

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CIBJO Backs ‘synthetic’ As Sole Label For Man-Made Diamonds

CIBJO’s Laboratory-Grown Diamond Committee, Told Delegates That “Synthetic” Remains The Primary Term Recognized By Consumers, Despite A Formal Push From The Sector’s Steering Committee To Defer The Ruling and Authorize “Laboratory-Grown.”

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The World Jewellery Confederation (CIBJO) has recommended “synthetic” as the only acceptable descriptor for non-mined diamonds, rejecting calls from trade leaders to permit the term “laboratory-grown,” the organization said on Monday.

The decision, finalized at the closing session of the 2026 CIBJO Congress, deepens a global divide over gemstone terminology at a time when manufactured stones are rapidly eroding the market share and pricing power of mined gems.

CIBJO’s Laboratory-Grown Diamond Committee, told delegates that “synthetic” remains the primary term recognized by consumers, despite a formal push from the sector’s steering committee to defer the ruling and authorize “laboratory-grown.”

CIBJO’s move aligns with a growing regulatory push in several major markets. France restricted terminology to “synthetic” in 2024, Russia followed suit in June, and the London Diamond Bourse endorsed the single descriptor on Sunday. In May, the African Diamond Producers Association also tightened descriptor rules to shield the natural diamond trade.

In contrast, regulators and retailers in the United States and India have favored consumer-friendly phrases such as “lab-grown” or “laboratory-grown.” The commercial stakes are particularly high in the U.S., where synthetic stones now account for more than half of all engagement ring sales by volume, applying severe downward price pressure on natural rough and polished stones.

CIBJO, which began moving to strike “lab-grown” from its influential Diamond Blue Book standards last year, warned that the diverging legal frameworks are leaving the global market increasingly fragmented.

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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.

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