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De Beers Announces 2020 Sight Schedule

First sale will begin January 20.
Nov 18, 2019 5:57 AM   By Rapaport News
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RAPAPORT... 
De Beers has released the dates of the 10 sights it will hold in Gaborone, Botswana, next year. The miner sells around 90% of its rough at those sales, with the rest available at auctions.

The January sight will be the first in De Beers’ new intention-to-offer (ITO) period, which is switching to a calendar-year format. Prospective long-term buyers, or sightholders, tell De Beers how much rough they will require during the period — their “intention to offer” — with the miner subsequently informing them how much they will receive.

The company also announced auction dates for the first five sales cycles of 2020.

Sight dates

  • Sight 1: January 20 to 24

  • Sight 2: February 24 to 28

  • Sight 3: March 30 to April 3

  • Sight 4: May 4 to 8

  • Sight 5: June 15 to 19

  • Sight 6: July 27 to 31

  • Sight 7: August 24 to 28

  • Sight 8: September 21 to 25

  • Sight 9: November 2 to 6

  • Sight 10: December 7 to 11

Auction dates

  • Cycle 1: January 2, 14 and 15

  • Cycle 2: February 6, 19 and 20

  • Cycle 3: March 12, 18 and 19

  • Cycle 4: April 16, 22 and 23

  • Cycle 5: May 21; June 3 and 4

Image: De Beers’ Orapa mine in Botswana. (Ben Perry/Armoury Films/De Beers)
Tags: De Beers, mining, Rapaport News, rough, Rough Diamonds, rough sales, Sightholders, Sights
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