ODC acts to support diamond prices

Friday, October 10, 2025 | 160 Views |

Partnerships: Minerals and Energy minister, Bogolo Kenewendo, Boko, Masire and an ODC official at a recent meeting PIC: DUMA BOKO FACEBOOK

Okavango Diamond Company (ODC) says its decision not to accept bids at a recent auction was to safeguard the value of the stones, rather than risk a negative impact in the market.

The recent tender of stones, estimated by Bloomberg to have a value of $100 million, resulted in bids below what the state-owned diamond trader was looking for.

Rough diamond prices have been under strain for a prolonged period, largely due to the incursion of cheaper synthetic stones, the underperformance of the Chinese market and more recently, the uncertainty caused by U.S trade tariffs on the industry.

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