Diamond sales on track to smash six-year record

Grinding on: Diamonds are on track to set a new sales record this year PIC: DEBSWANA.COM
Grinding on: Diamonds are on track to set a new sales record this year PIC: DEBSWANA.COM

Debswana is on track to export the highest value of diamonds since 2016, after its sales reached P31 billion in the first six months of the year, nearly 69% higher than the corresponding period last year.

The exports in the half-year to June 30 compare favourably to the P38.1 billion full-year sales figure for 2021, which in turn represented the highest level since 2016.

Debswana sells 25% of its production to state-owned diamond trader, Okavango Diamond Company and the balance through the De Beers sales platform. While some rough diamonds sold by De Beers to cutting and polishing firms are in turn sold as jewellery locally, the majority of Debswana’s production is exported abroad.

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