Sluggish market dents sales of Ghaghoo diamonds

Ghaghoo mine
Ghaghoo mine

Sales of diamonds recovered from Ghaghoo mine in the CKGR was depressed at an auction held this month due to the prevailing weak conditions in the market.

According to a statement released by Gem Diamonds yesterday, high inventory levels and continued liquidity concerns, coupled with global macroeconomic uncertainties, have continued to place pressure on rough and polished diamond prices, denting the realised price of commercial stones recovered at Ghaghoo mine.

Recovered grades from the mine in the six months ended June 30 fluctuated between 28 carats per hundred tonnes (cpht) and 30 cpht in May and June, while a second parcel of 29,891 carat of commissioning-phase production sold for $4.9-million, or $165/carat, in July in a ‘difficult market’.

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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