{"id":38787,"date":"2023-11-18T16:42:13","date_gmt":"2023-11-18T16:42:13","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=38787"},"modified":"2023-11-18T15:08:55","modified_gmt":"2023-11-18T15:08:55","slug":"de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges","title":{"rendered":"De Beers\u2019 Ninth Diamond Sales Cycle Reflects Resilience Amid Global Economic Challenges"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The world\u2019s premier diamond company, De Beers, recently concluded its ninth sales cycle of 2023, revealing a total sales figure of $80 million.<\/b><\/p>\n

Made by De Beers parent company Anglo American, the announcement, underscores the challenges faced by the diamond sector amidst ongoing macro-economic uncertainties.<\/p>\n

The CEO of De Beers, Al Cook, acknowledged the hurdles, stating: \u201cMacro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow.<\/p>\n

Full purchase flexibility<\/p>\n

\u201cAnd the voluntary import moratorium on rough diamonds into India will see extended Diwali holidays and factory closures in the world\u2019s largest diamond cutting centre.\u201d<\/p>\n

Cook highlighted the company\u2019s response to these conditions, emphasising reduced rough diamond availability in the latest sales cycle.<\/p>\n

De Beers maintained a steadfast commitment to its sightholders, offering full purchase flexibility to support them as the midstream seeks equilibrium between wholesale supply and demand.<\/p>\n

De Beers-Botswana ties<\/p>\n

The term \u201csightholders\u201d refers to customers with a contractual agreement covering the sale of diamonds over an agreed-upon period, emphasising the company\u2019s dedication to fostering lasting partnerships.<\/p>\n

The relocation of De Beers\u2019 Sightholder Sales team from London to Gaborone in 2013 marked a strategic move that further solidified the company\u2019s ties with the SADC nation.<\/p>\n

Rough diamonds, meticulously sorted into more than 10,000 categories, are sent to Gaborone from De Beers Group\u2019s operations in Canada, Botswana, Namibia and South Africa.<\/p>\n

Sightholders and Accredited Buyers<\/p>\n

Global Sightholder Sales, hosting sales 10 times a year known as \u201csights,\u201d allows customers to inspect the rough diamonds before making purchasing decisions.<\/p>\n

The two types of customers in Global Sightholder Sales, Sightholders and Accredited Buyers, benefit from different arrangements. Sightholders enjoy term contracts while Accredited Buyers operate on a more ad hoc basis.<\/p>\n

De Beers, owned 85 percent by Anglo American and 15 percent by the Government of Botswana, stands as a global powerhouse with over 20,000 employees working in 28 countries.<\/p>\n

The company\u2019s reach spans across the countries where it recovers diamonds \u2013 Botswana, Canada, South Africa and Namibia.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The world\u2019s premier diamond company, De Beers, recently concluded its ninth sales cycle of 2023, revealing a total sales figure of $80 million. Made by De Beers parent company Anglo American, the announcement, underscores the challenges faced by the diamond sector amidst ongoing macro-economic uncertainties. The CEO of De Beers, Al Cook, […]<\/p>\n","protected":false},"author":84,"featured_media":38786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-38787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nDe Beers\u2019 Ninth Diamond Sales Cycle Reflects Resilience Amid Global Economic Challenges - Botswana<\/title>\n<meta name=\"description\" content=\"The world\u2019s premier diamond company, De Beers, recently concluded its ninth sales cycle of 2023, revealing a total sa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"De Beers\u2019 Ninth Diamond Sales Cycle Reflects Resilience Amid Global Economic Challenges\" \/>\n<meta property=\"og:description\" content=\"The world\u2019s premier diamond company, De Beers, recently concluded its ninth sales cycle of 2023, revealing a total sa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-18T16:42:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/11\/sm_1700307264.308296.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"De Beers\u2019 Ninth Diamond Sales Cycle Reflects Resilience Amid Global Economic Challenges\",\"datePublished\":\"2023-11-18T16:42:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\"},\"wordCount\":352,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/11\/sm_1700307264.308296.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-ninth-diamond-sales-cycle-reflects-resilience-amid-global-economic-challenges\",\"name\":\"De Beers\u2019 Ninth Diamond Sales Cycle Reflects Resilience Amid Global Economic Challenges - 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