Industry News by Nemesis

Diamonds Drag Down Botswana’s Q2 Mining Production

October 16, 2019

Botswana’s mining production eased by 8.7% in the second quarter of 2019 compared to the same period a year earlier, mainly due to poor diamond output.


Statistics Botswana statistician general Burton Mguni said diamond output contributed a negative growth of 8.1% to the total mining production during the period under review without providing further details.


“The Index of Mining Production stood at 85.9 during the second quarter of 2019, showing a year-on -year reduction of 8.7 percent from 94.0 recorded during the second quarter of 2018,” he was quoted as saying by the Weekend Post.


The quarter-on-quarter analysis showed a decrease of 4.1%, from the index of 89.6% during the first quarter of 2019 to 85.9% observed during the second of quarter of this year. 


Mguni said diamond production decreased by 8.4% during the second quarter of 2019, as compared to an increase of 6.4% registered in the same quarter of the previous year.


“This can be attributable to weaker trading conditions as well as being cautious to macroeconomic uncertainty,” he said.


“The quarter-on-quarter analysis reflects that diamond production decreased by 4.2% during the second quarter of 2019 as compared to a decrease of 5.4% registered in the first quarter of 2019.”  


Botswana’s diamond output rose 6% to 24.4 million carats in 2018.

 

Source: Rough&Polished

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