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De Beers announces 2015 Auction Sales programme for Forward Contract Sales

The De Beers Group of Companies this week announced the 2015 Forward Contract Sales (FCS) programme for its Auction Sales business. As a result of customer feedback, the new programme includes a number of changes from the programme first launched in 2014.

In response to customer demand for greater availability of Forward Contracts in the first half of the year and for increased range and quantity of products, a single FCS event will take place in March 2015. At the event, registered customers will have the opportunity to bid for future supply of a wider range of products (from the +2 Cts, Grainers and Smalls categories), available in multiple-unit volumes and over one, two, three and four-cycle contract durations.

FCS was launched in 2014 in response to feedback from customers seeking either to lock in short-term security of supply that spot sales cannot provide, or to complement their existing long-term supply contracts. They allow buyers to bid on all future contracts offered, or any combination, and to bid for the volumes of products they require in each contract. This allows buyers the flexibility to construct their own bespoke supply contracts.

Neil Ventura, De Beers’ Executive Vice President of Auction Sales said: “FCS got off to a successful start in 2014 with over 300 contracts sold and customers demonstrating a willingness to pay a premium for short-term security of supply. This year, in response to customer feedback, a wider range of products will be made available including some of our +2ct products for the first time. Furthermore, the one-off set of FCS auctions will provide our customers with a highly convenient way to secure the products they require for delivery in any one of the four cycles between March and July, or any combination of these delivery periods that suit their needs.”

Customers with a track record of demonstrated demand in the products being offered for sale will be notified and provided the full details in due course. Any customers new to Auction Sales or yet to participate in FCS can find out more via their account managers.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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