Debswana output steady despite faltering demand

Monday, October 28, 2019

Jwaneng Mine is one of De Beers' Key production units

Debswana’s third quarter production clocked in at 5.7 million carats, just 19,000 carats lower than the second quarter, as the world leading diamond producer stuck to a pledge to maintain output despite a global slump in demand.

De Beers, which owns 50% of Debswana alongside government, has thus far recorded year-to-date sales of $3.21 billion compared to $5.39 billion and $5.31 billion by the same time in 2018 and 2017 respectively.

Rough diamond sales for the year have encountered severe difficulties owing to high levels of inventory in the midstream, where manufacturers are also struggling to secure credit.

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Debswana output steady despite faltering demand

Debswana’s third quarter production clocked in at 5.7 million carats, just 19,000 carats lower than the second quarter, as the world leading diamond producer stuck to a pledge to maintain output despite a global slump in demand.