Diamond giant De Beers to close Singapore office
The diamond mining giant is moving its auction business headquarters to Botswana.
The lobby of a De Beers Group Diamond Trading building in Gaborone, Botswana. (File photo: iStock)
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SINGAPORE: Diamond mining giant De Beers will be closing its office in Singapore as it relocates its auction business headquarters.
The company, which has offices in 11 markets, said in response to CNA's query on Friday (Apr 26) that it has decided to move its auction business headquarters to Botswana.
This will bring De Beers' global rough diamond trading activities “under one roof” as most of its rough diamond sale activities are already established in Gaborone, Botswana's capital, it said.
“The relocation, which will take place over the coming months, supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana,” the company told CNA.
The move will entail the closure of the De Beers Singapore office, it said, adding that it is currently in the process of engaging with employees whose roles are expected to be impacted by the relocation.
When asked, De Beers did not tell CNA how many employees would be affected by the move.
