Diamond production in Namibia is expected to fall in 2020, negatively impacting government revenue and export earnings, according to the country’s chamber of mines.
Chamber of Mines of Namibia resident Zebra Kasete said the drop in diamond output was due to the coronavirus pandemic.
He said demand for diamonds had also plummeted, being a luxury good in the midst of COVID-19 pandemic, dampening the flow in the diamond pipeline.
Namibia’s central bank said last April that the diamond mining sector is forecasted to decline by 14.9% in real terms during 2020 due to the anticipated fall in demand, compounded by interruption in logistics for holding sales auctions due to travel restrictions and lockdowns around the world.
The projected contraction of 14.9% for 2020 is a downward revision from a growth of 5.3% projected last February.
Namibia produced just above 2 million carats in 2019, according to the Kimberley Process.
Namdeb production increased by 7% to 400 000 carats in the second quarter of the year.
With targeted regional lockdowns in Namibia in response to Covid-19, marine operations implemented measures to enable operational continuity while safeguarding the workforce.
This more than offset the decrease in production from Covid-19 at the land operations.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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