More rough diamonds are being sold locally
Producing countries have been playing a more active role in the sale and distribution of rough diamonds. This is driven by a strong desire on the part of national governments to increase their share of value-add of the primary resource, and has resulted in the establishment of domestic sales channels such as the State Diamond Trader in South Africa, and the Okavango Diamond Company in Botswana.
The trend towards in-country value addition to diamonds saw perhaps its largest milestone yet in 2013, with the move of De Beers’ Global Sightholder Sales to Botswana, and the organisation of De Beers’ first ever international ‘Sight’ in Gaborone in November 2013. This move followed the conclusion of a new diamond sales and marketing agreement between De Beers and the Government of the Republic of Botswana and involved the transfer of De Beers’ aggregation and international sightholder sales activities, including 84 employees, from De Beers’ London offices to Gaborone.
As of 2014, the majority of De Beers’ rough diamond availability is sold in Botswana. This will help position the country as a global centre for the diamond industry.