More positive signs for Debswana's output

Last year, Debswana’s mines dug up 23.3 million carats against a target of 24 million. The numbers were influenced by a slump in demand caused by high inventory in the diamond midstream, a sector occupied by cutting and polishing firms as well as jewellery manufacturers.

This year, a softer start to the year, during which Debswana produced 5.6 million carats in the first quarter compared to six million over the corresponding period in 2019, grew considerably darker as the onset of the coronavirus (COVID-19) forced production stoppages and constrained both the arrival of buyers and the exports of diamonds. Global demand for the precious stones also dropped as customers in key markets such as China, India and the US were impacted by lockdowns and pressure on incomes.