Coronavirus: De Beers Sight Will Go Ahead, Despite Botswana Travel Ban
March 18, 20
(IDEX Online)- De Beers plans to go ahead with its third sight next month, despite a travel ban to Botswana, where the sales are held.
Flights from 18 high-risk countries - including China, India and Belgium - have been banned in a move aimed at limiting the spread of coronavirus.
Many of the 80 sight holders will struggle to attend and may send representatives or buy blind at the sight, which starts in Gaborone on 30 March.
A De Beers spokesman said: "As the situation around the globe continues to evolve rapidly, we have been meeting with customers to understand their requirements.
"While this is an extraordinary situation and COVID-19 has had an impact, our customers continue to express some demand for rough diamonds and have communicated their desire for the Sight to proceed.
"We are therefore focused on standing with our customers, meeting their requirements and proceeding with Sight 3."
De Beers saw sales slump at its February sight, down to $355m (provisional), from $551m in January.
It has already announced plans to relax its sight terms, in order to offer dealers, manufacturers and integrated retailers more of the stones they want.