Debswana Rough Diamond Sales Down 17%

By John Jeffay / August 08, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Rough diamond sales at Debswana fell by 17 per cent during the first half of this year, amid ongoing weak demand.The 50/50 joint venture between De Beers and the Botswana government sold 12.7m carats for $2.179bn, down from $2.622bn during the same period last year, according to the Bank of Botswana.It follows a bumper year for Debswana in 2022, when rough sales increased by almost a quarter as buyers shunned Russian goods.Total revenue for the year hit a record $4.588bn, but market uncertainties have hit sales of late.Debswana mines the vast majority of Botswana's diamonds. At the moment De Beers sells 75 per cent and state-owned Okavango Diamond markets the remainder.A new deal agreed last month will see Okavango's share increase to 50 per cent over the next decade.Pic shows Orapa mine, courtesy Debswana. 

Recent News

Thor Explorations continues to lead TSXV global gold producers

June 02, 2025 / www.canadianminingreport.com

Gold stocks rise with juniors outperforming majors

June 02, 2025 / www.canadianminingreport.com

Gold Becomes Largest Metals Market

May 26, 2025 / www.canadianminingreport.com

Gold stocks surge on metal gain, Amex boosts Perron resource

May 26, 2025 / www.canadianminingreport.com

Global trade tensions ease and inflation continues to decline

May 19, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok