De Beers Group to relocate Auctions...

De Beers Group today announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. The relocation supports De Beers' focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana.

De Beers Group's decision to relocate its Auctions headquarters to Gaborone reinforces its commitment to developing Botswana's diamond industry. It also reflects confidence in the country's capabilities and growth agenda. De Beers Global Sightholder Sales moved from the United Kingdom to Botswana in 2013, and has now operated successfully in Gaborone for more than a decade. The move of the Auctions business headquarters will enhance efficiency, strengthen partnerships, and support the development of key diamond industry skills in Botswana.

As the relocation process takes place over the coming months, De Beers Group Auctions will be pausing operations and sales events until the move has been completed to support a smooth transition process and to ensure that customers continue to receive the high level of service that they expect.

Al Cook, Chief Executive Officer for De Beers Group, said: "I am very pleased that we are consolidating our global diamond trading business under one roof. Our Global Sightholder Sales business has successfully operated in Botswana for 11 years, so it is a logical and positive move to transfer our Auctions business to the country. This move will drive cost efficiencies and support our customers' needs. I am confident that it will also support the further development of the vibrant diamond sector in Botswana."

Speaking on behalf of the Government of Botswana, Emma Peloetletse, Permanent Secretary to the President stated: "The relocation of De Beers' Auctions business to Botswana underscores Botswana's growing role as a global hub for the diamond industry and will further enhance our economy and bolster skills development in the sector."

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About De Beers Group

Established in 1888, De Beers Group is the world's leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world's largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group's strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and De Beers Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to 'Building Forever,' a holistic and integrated approach for creating a better future - where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.

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