Debswana output steady despite faltering demand

Jwaneng Mine is one of De Beers' Key production units
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.

Editor's Comment
Let the law take its course

When the news broke, a fierce debate ensued. While some members of the public believe that the law should take its cause, there is a section of the population that believes the move to detain the MP is politically motivated.Matsheka has been in the custody of the Directorate of Intelligence and Security since August 2 and the warrant of arrest was allegedly obtained on August 4, two days later.The issue of alleged ritual murders has never been an...

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