De Beers to Switch Its Diamond Trading Activities to Botswana From London

Bloomberg reported De Beers has agreed to move sorting and trading of the gems to Botswana by the end of 2013.

The market news is quoted as saying,

The move is part of a 10-year deal signed today with the Southern African nation in the capital, Gaborone. The agreement ensures De Beers’ continued access to diamonds from the country, which produces more of the gems than any other, and may mean increased revenue and jobs for Botswana.

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