Jewellery

Latest De Beers news – Moving from London to Botswana

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The latest news from the diamond giant De Beers say the decision has been made to move from London to Botswana. De Beers are moving their sales from their London headquarters to Gaborone, Botswana. The decision was made in 2011. Since then, De Beers have been negotiating with the country that is home to the richest diamond mines in the world. The move will cost the company over $ 120 million. Of those 12 million, $ 6 billion is annual revenue. The decision to move the market from London to Botswana is based on a 10-year contract between De Beers and the Botswana government.

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The move is viewed in a positive light by some and is seen as a way for De Beers to have easy access to gemstones and mining, but also to their diamond range and aggregation businesses that have already relocated to Gaborone. Others see this as not just the end of society, but a possible future challenge for the company. For many, it is clear that the company’s direct link with the Botswana mines could be detrimental, considering also their mines in Namibia, South Africa and Canada. These difficulties can add problems such as finding visas, flights, and hotels, which are common in a developing country .

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