Govt revenues face drop as De Beers’ sales plunge

Government revenues are likely to dip as De Beers rough diamond sales by volume fell 26 percent year-on-year to 14 million carats in the first half of 2015.

De Beers, which gets about 75 percent of its output from Botswana mines, pays government of Botswana 80 cents out of every dollar derived from Debswana revenues. According to figures released yesterday by the parent company, Anglo American production fell six percent to 7.96 million carats in the second quarter and by three percent to 15.63 million carats in the first half of the year.

 The lower output is in line with De Beers’ strategy to lower supply and maintain steady prices.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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