The days when De Beers sorted all its diamonds in an ornate building on London’s Charterhouse Street have finally reached an end.
On Aug. 14, the De Beers Group announced that its world diamond aggregation has moved to Gaborone, Botswana, two months ahead of schedule. The move is part of a new sales agreement between De Beers and the Botswana government that will eventually move the entire Diamond Trading Company to Botswana, where it will conduct its famed “sights.” The DTC move is due to be completed by the end of 2013.
The move will mean “$6 billion of diamonds will flow through Botswana,” a statement said, turning it into an “international diamond center.”
De Beers sorted goods in London for nearly 80 years, a statement said.
“This is a proud day for De Beers,” said De Beers Group CEO Philippe Mellier in a statement. “Our focus is on providing our sightholders with the continuity and quality of supply they expect while living up to our commitment to our partners to push beneficiation to greater levels than ever seen before.”