Debswana unfazed as diamond market slumps

Rough Diamonds. PIC MORERI SEJAKGOMO
Rough Diamonds. PIC MORERI SEJAKGOMO

Debswana will 'keep to its production plans' this year, despite a global slowdown in the demand for rough diamonds that saw values at an auction held in Gaborone last month fall by 36%.

Debswana is the world’s largest producer of diamonds by value and a key economic entity, contributing about a fifth of the gross domestic product (GDP) and about two thirds of foreign currency revenues.

De Beers, which holds 50% equity in Debswana alongside government, has recently noted a slump in sales of rough diamonds due to high inventory levels in the market’s midstream, a segment that includes cutting and polishing firms as well as jewellery manufacturers.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up