Diamond Transfer Perfectly Timed

Mining Weekly reported  De Beers’ planned transfer of sales and aggregation activities from London to Botswana is perfectly timed, according to Varda Shine.

As quoted in the market news:

She stated at a media briefing at the DTCB complex, outside Gaborone, that the move would offer clients security of rough diamond supply going forward.

De Beers and the Botswana government signed a ten-year agreement last year to move the London DTC to Botswana. The process is expected to take 18 months and reach completion by the end of 2013. The first group of London expatriates would arrive later this year.

Click here to read the full Mining Weekly report.