Industry News by Nemesis

Botswana Rough Exports Drop

August 23, 2017

Botswana’s rough-diamond exports declined 9% year on year in the first half, according to data the Bank of Botswana released recently. 

Exports grew 3% year on year to $849.6 million in the first quarter, but fell 18% to $804.1 million in the second quarter, giving a total of $1.65 billion for the six months, the figures showed.

The decline largely reflects a 6.5% drop in first-half rough sales by De Beers, whose diamond-mining joint venture with Botswana, known as Debswana, accounted for about 70% of the company’s carat production during the period.

 

Source: Rapaport

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