It’s not diamonds or: It’s diamonds and... :: Mmegi Online

Every debate about diamonds is met by choruses of how the stones that built Botswana are effectively dead and work should exclusively be on what comes next. Policymakers however say this is classic binary thinking. They instead prefer a “diamonds and” approach which includes critical minerals and broader transformational efforts. With diamond exports up 8% to P38.4bn as at Nov 2025, the policymakers feel emboldened, writes MBONGENI MGUNI

Those who want policymakers to give up on diamonds and move on frequently point to the fact that Angola last year overtook Botswana as the continent’s biggest producer of diamonds by value. The explosion of synthetics in the market also means the hopes for a return to the glory days of Botswana diamonds are dashed, they say.

Those within the country defending natural diamonds say Angola only came tops because Botswana, a veteran of boom/bust cycles, reduced production in order to support the clearing up of inventory in the pipeline and with it, the resuscitation of demand. Flooding the market by over-producing at a time of softer demand, dulls the rarity, value and mystery of natural diamonds and with it the prices that budgets and communities depend on.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.