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

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com

US$ and bonds not the safe havens normally expected

April 14, 2025 / www.canadianminingreport.com

Crash driven by tech and highly cyclical sectors

April 07, 2025 / www.canadianminingreport.com

Gold stocks succumb only on second day of plunge

April 07, 2025 / www.canadianminingreport.com

Gold stocks outperform, New Found Gold down on initial MRE

March 31, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok