Industry News by Nemesis
De Beers Announces 2020 Sight Schedule
November 21, 2019

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)
Source: Rapaport