Antwerp’s Diamond Dominance Is Being Tested

Bloomberg reported Antwerp’s diamond dominance is being challenged with growing competition.

As quoted in the market news:

In the most immediate challenge, De Beers, the biggest producer by revenue, is moving the sorting and trading of rough stones to Botswana from London to secure access to the world’s largest supplier of diamonds by value. The shift, to be completed next year, is part of the African nation’s efforts to build its own trading center in the capital of Gaborone and ends a decades-long De Beers practice of holding sales in the U.K.

Click here to read the full Bloomberg report.