De Beers Diamond Buyers Locked Out in Botswana Travel Ban
- Company says it plans to hold diamond sale later this month
- African nation’s travel ban includes India, China, Belgium
Photographer: Chris Ratcliffe/Bloomberg
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De Beers, already grappling with a prolonged industry crisis exacerbated by the coronavirus outbreak, now has another headache to contend with: how to conduct diamond sales when key customers are blocked from traveling?
Botswana, where De Beers conducts its 10 sales each year, on Monday announced a travel ban on 18 high-risk countries as part of an array of measures to protect itself from the pandemic. The list included Belgium, India and China, which are home to many of the world’s leading diamond dealers.