#Login Register


  • 0 Vote(s) - 0 Average
Home 


De Beers to move its London Diamond business to Botswana
09-19-2011, 07:44 PM #1
Octo Mother Superior
Posts:42,618 Threads:1,469 Joined:Feb 2011
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.

hmm.gif

http://www.france24.com/en/20110919-de-b...s-botswana
09-19-2011, 07:56 PM #2
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
Less taxes I bet. coffeetime.gif

Biere.
09-19-2011, 09:02 PM #3
Octo Mother Superior
Posts:42,618 Threads:1,469 Joined:Feb 2011
Less people too 13.gif 8 million in London compared to 2 m in the whole of Botswana damned.gif I bet they all work in the mining industry too
09-19-2011, 09:48 PM #4
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

İmage

İmage
09-19-2011, 09:59 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,286 Threads:1,438 Joined:Feb 2011
Seems like they are outsourcing some UK jobs in the process also. coffeetime.gif

wonder.gif
09-19-2011, 10:10 PM #6
Octo Mother Superior
Posts:42,618 Threads:1,469 Joined:Feb 2011
(09-19-2011, 09:48 PM)Prometheus Wrote:  İmage

İmage

Hate when that happens coffeetime.gif

İmage



Home 




 



DISCLAIMER / Terms of Service (TOS):
Kritterbox.com - Socialize anonymously, commentary, discussion, oddities, technology, music and more!  This website is provided "as is" without warranty of any kind, either expressed or implied. kritterbox.com shall not be liable for any damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damage, and on any theory of liability, arising out of or in connection with the use or performance of this site or other documents which are referenced by or linked to this site.
This website exists solely for the purposes of exchange of information, communication and general entertainment. Opinions from posters are in no way endorsed by kritterbox.com. All posts on this website are the opinion of the authors and are not to be taken as statements of fact on behalf of kritterbox.com. This site may contain coarse language or other material that kritterbox.com is in no way responsible for. Material deemed to be offensive or pornographic at the discretion of kritterbox.com shall be removed. kritterbox.com reserves the right to modify, or remove posts and user accounts on this website at our discretion. kritterbox.com disclaims all liability for damages incurred directly or indirectly as a result of any material on this website. Fictitious posts and any similarity to any person living or dead is coincidental.
All users shall limit the insertion of any and all copyrighted material to portions of the article that are relevant to the point being made, with no more than 50%, and preferably less of the original source material. A link shall be visible in text format, embedded directly to the original source material without exception.
No third party links, i.e. blogs or forums will be accepted under any circumstances, and will be edited by staff in order to reflect the original source of copyrighted material, or be removed at the sole discretion of kritterbox.com.
Fair Use Notice:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Users may make such material available in an effort to advance awareness and understanding of issues relating to economics, individual rights, international affairs, liberty, science, and technology. This constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C.Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for educational and/or research purposes.
This Disclaimer is subject to change at any time at our discretion.
Copyright © 2011 - 2017 kritterbox.com