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De Beers Moves £3.7Bn Of Sales From London To Gaborone

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http://www.dailymail.co.uk/news/article-2442403/Diamond-seller-De-Beers-closes-London-auctions-rooms-nearly-80-years-company-heads-Africa.html

The move secured a new 10-year contract for the sorting, valuing and sales of diamonds from the Botswana mines run by Debswana, a split venture between De Beers and the southern African country's government.

It will shift more than £3.7 billion of annual rough diamond sales from London to Gaborone.

By separating the sales from the corporate headquarters, the move is arguably the biggest challenge De Beers has faced to the way it does business since the current sales model was set up nearly a century ago.

Does this mean that the UK economy now has to make up an additional £3.7bn?

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That's one of the films I will happily watch any time it comes on the screen...

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