Last week's sale of rough stones mined by diamond industry giant De Beers was unexceptional, except in one respect: it will go down in history as the last De Beers tender to have been conducted in London, England. Although the British capital has doubled as the center of sales operations for De Beers for decades, it will now cede its vaunted position to Gaborone, the capital of Botswana, Rough and Polished reports.

The diamond company's infamous Sights, where specially accredited Sightholder companies come to bid on pre-packaged boxes of rough diamonds, have been held in the United Kingdom since the late 1930s. De Beers' ten-year commitment to sort, evaluate and sell diamonds in Botswana compliments its mining operations in the country. It is also a 50% stakeholder in Debswana, in partnership with the Government of Botswana.

Although many of the firm's operations are being moved to Africa, its corporate headquarters will remain fixed in Europe. The separation of the two functions represented a major change in the company's corporate model, but one that was mandated by modern market conditions, according to Rough and Polished.