de beers to move its london gem works to botswana
Last Updated : GMT 09:28:45
Arab Today, arab today
Arab Today, arab today

De Beers to move its London gem works to Botswana

Arab Today, arab today

Arab Today, arab today De Beers to move its London gem works to Botswana

Gaborone - AFP

Botswana and De Beers have signed a 10-year deal that will see the world’s leading producer of diamonds moving its rough stone sorting and trading division from London to Gaborone, an official said Monday. \"Under the new 10-year sales agreement, De Beers has agreed to move its sorting and trading of the gems to Botswana by the end of 2013, thus ending its long standing arrangement for such sales to take place in London,\" said government spokesman Jeff Ramsay.The agreement was signed on Friday by the government and De Beers, he said. Since it started mining diamonds in the early 1970s, Debswana -- a company equally owned by Botswana\'s government and De Beers -- has been selling its diamonds exclusively to De Beers, who in turn shipped the diamonds to London for sale to customers.The agreement, which is back dated from January 1, 2011, is the longest sales contract ever agreed between the two partners.The deal will see De Beers relocate its sights and sales operation including professionals, skills, equipment and technology from London to Gaborone. Botswana will for the first time directly sell 10 percent of gem stones manufactured locally while De Beers will also increase the value of diamonds it makes available to manufacturing companies in the country to $800 million a year from the current $550 million. Minerals minister, Ponatshego Kedikilwe said it has long been the aim of the government to have diamonds from Botswana processed, sorted, marketed and sold in Botswana. \"Diamonds are currently Botswana\'s sole world class resource; as such Government has a strategic obligation to maximize creation and realisation of the resources in the country,\" he said.\"The agreement gives us direct access to market which will be helpful for the successful development of the downstream diamond industry in Botswana,\'\' he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

de beers to move its london gem works to botswana de beers to move its london gem works to botswana

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

de beers to move its london gem works to botswana de beers to move its london gem works to botswana

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday