Botswana: Okavango Starts Pilot Rough Auction Ahead of Start of Activities

Okavango, established in 2011 following an agreement between De Beers and the Botswana government, is entitled to sell 12% of Debswana's production this year. That will increase to 15% in 2016

The Okavango Diamond Company owned by the Botswana government, has begun a trial run of the sale of rough diamonds, according to Rough & Polished.

The pilot sale in the southern African country aims to examine the company’s sales and other systems before it launches full, regular auctions in September.

Okavango, which was established in 2011 following a deal between De Beers and the Botswana government, is entitled to sell 12% of Debswana’s production this year. That figure rises by 1 percent annually until the allocation reaches a maximum of 15 percent in 2016.

The Botswana government hopes that the diamond sales will lead to the creation of more jobs in the domestic diamond polishing sector.

Meanwhile, the transfer of the Diamond Trading Company's operations to Gaborone from London is expected to be completed this year, De Beers CEO Phillipe Mellier told the BBC.

This would turn Botswana, already the biggest center for diamond production, into a major global diamond hub.