Debswana cuts production amid COVID-19 market glut

The company’s stones are sold primarily through the De Beers’ chain and to a lesser extent, the state-owned Okavango Diamond Company. Both channels have been restrained this year as the coronavirus forced government to close borders and impose movement restrictions.

Debswana contributes at least 70% of De Beers’ global diamond production and the parent group has already cut its forecast production for 2020 by seven million carats to 27 million.