De Beers Announces 2020 Sight Schedule

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