The Dubai Diamond Exchange, a subsidiary of Dubai Multi Commodities Centre, today hosted senior executives from De Beers atAlmas Tower, headquarters of the DDE. The delegation included Philip Mellier, CEO; Varda Shine, Executive Vice President; Mahiar Borhanjoo, Senior Vice President, and Nigel Simson, Senior Vice President.
During the visit, the parties primarily discussed the major opportunities De Beers’ first ever ‘sight’ (sale) in Gaborone, Botswana, will present to the DDE and Dubai as a distribution and trading centre for rough diamonds.
Positioned in Dubai between producing countries in Africa and cutting centres in South Asia and the Far East, the DDE is expected to realise a dramatic upsurge in the trade of rough diamonds through its exchange. The relocation of De Beers aggregation, sales and marketing departments – Diamond Trading Centre to Gaborone will see at least US$ 6 billion of rough diamonds passing through the Botswana Diamond Centre, the majority being traded directly through Dubai.