Hope glitters after diamond distress

Statistics Botswana figures released this week showed that exports of locally produced stones dropped to P23.7 billion in 2020 from P32.7 billion in 2019, while the main producer, Debswana, saw its production fall to 16.5 million carats from 23.3 million carats in 2019. State-owned diamond company, Okavango Diamond Company, which is allocated and sells a portion of diamonds from Debswana, saw its sales drop to $206.2 million (P2.3 billion) in 2020 from $440.3 million (P4.8 billion in 2019, further worsening the impact on government mineral revenues.

“The year 2020 was a tumultuous year for the global industry and Okavango Diamond Company, like the rest of the diamond industry was adversely affected,” Dennis Tlaang, the state diamond company’s communications coordinator told BusinessWeek.