Debswana output set to reach 2014 peaks

A recovery in diamond demand will see Debswana producing above set targets PIC: MORERI SEJAKGOMO
A recovery in diamond demand will see Debswana producing above set targets PIC: MORERI SEJAKGOMO

Projected robust demand for rough diamonds in the second half of the year is expected to lift Debswana’s production to peak levels last seen in 2014, Mmegi Business has established.

Debswana produced 24.2 million carats in 2014 before mid-stream overstocking and weak demand forced a limiting of production to 20.4m in 2015 and 20.5m carats in 2016.  In April, the diamond giant revealed it was targeting 20.5m this year, but last week, a De Beers executive confirmed the figure would likely be closer to 22 million.

De Beers executive head (strategy and corporate affairs) Gareth Mostyn told Mmegi Business the prospects for healthy demand in the second half of the year were looking strong. Debswana’s three mines produced 11.12m carats in the first six months of the year, representing 70% of De Beers’ global production. De Beers holds 50% equity in Debswana.

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This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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