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Botswana auctions diamonds at home
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Jun 28, 2013 12:50pm |
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| Category | News |
| Author | BBC |
| News Date | Friday, June 28, 2013 06:00:00 PM UTC0:0 |
| Description | Botswana, the world's largest diamond producer, has started to auction its own diamonds for the first time instead of selling them in Europe.
The auction is by the government-owned Okavango Diamond Company.
Later in the year, diamond giant De Beers, which owns the country's main mining firm with the government, will also move its sales to Gaborone.
Botswana has long campaigned for its diamonds to be processed, sorted, marketed and sold from the country.
Last year, De Beers moved its rough stone sorting operation, which had been based in London for nearly 80 years, to Botswana.
The BBC's Rob Young in the capital, Gaborone, says about a dozen diamond buyers from around the world are in the city for the auction, which lasts for two weeks as they inspect the diamonds first and then bid for them in several rounds.
The government hopes diamond sales operations will bring more value-added jobs to the diamond sector, including clerical and jewellery-making work, our reporter says. |
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