Botswana’s rough diamond sales for the first half of 2024 have significantly decreased, as reported by the country’s central bank.
According to newly-released figures, Debswana, a joint venture with De Beers, generated $1.287 billion in revenue from January to June, marking a 49.2% decline from $2.535 billion in the same period last year. Sales for the latter half of 2024 amounted to $902 million.
Since the discovery of diamonds in Botswana in 1967, the industry has been pivotal in transforming the country’s economy, now representing three quarters of its foreign exchange earnings.
Botswana, responsible for about two thirds of De Beers’ total production, experienced a 19% reduction in output during Q2 2024 due to weak global demand.
In terms of carat recovery, Botswana’s output dropped from 7.6 million to 6.4 million year-on-year during Q2 2024. The Jwaneng mine, the largest and most productive in Botswana and De Beers’ primary deposit, saw a 36% decrease in output from 2.5 million carats to 1.9 million carats for the quarter.
