De Beers will move its entire $6 billion-a-year sales operation from London to the Botswana capital of Gaberone.
85 workers out of 300 staffers based in London will be moved to Botswana, costing over $120 million, including the construction of offices in Gaborone, writes Vicky Silder. This comes after many years of talks between the government of Botswana and De Beers, the world’s biggest diamond miner, which is owned by the mining giant Anglo American.
The Southern African country of Botswana is the biggest producer of gem diamonds and it is believed that the move to Botswana will put to trial Botswana’s capability to advance people expertise and reduce jobless rate in the country.
“We believe our business model is quite strong and provides value for De Beers and its shareholders – so we came up with the idea of moving the whole business,” says Varda Shine, of De Beers‘ Global Sightholder Sales.