Diamond cutting industry on recovery path

Wednesday, June 28, 2017

The diamond cutting industry employed over 3,000 people at its peak

The domestic diamond cutting and polishing industry has managed to bounce back following the high rough prices and lack of liquidity, which affected performance of the industry two years ago.

Speaking at the Botswana and Japan business forum, deputy permanent secretary in the Ministry of Mineral Resources, Green Technology and Energy Security, Moremi Phiri said about $808 million worth of rough diamonds were supplied to the industry in the past year, which was an increase when compared to $502 million recorded in 2015.

In 2014, the industry was allocated diamonds worth $936 million.

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Diamond cutting industry on recovery path

The domestic diamond cutting and polishing industry has managed to bounce back following the high rough prices and lack of liquidity, which affected performance of the industry two years ago.