De Beers moves diamond sorting to Botswana
August 16 , 2012
The world's biggest diamond producer, De Beers, has started the sorting of rough stones in Botswana.
The move is the first in the transfer of some of its operations from London to Gaborone.
The firm aims to turn Botswana into a major international center, with some $6 billion worth of diamonds expected to flow through.
Botswana has long pushed for its diamonds to be processed, sorted, marketed and sold within it borders.
De Beers first agreed to the transfer in 2006 but it has been repeatedly delayed.
The deal will pave the way for Botswana to directly sell 10 percent of stones manufactured locally.