Image credit: De Beers Group (Facebook)
“I would like to pay homage to all players in the diamond value chain for continued resilience over the recent months of COVID-19,” he told a virtual gathering as part of a Diamond Impact Week.
“Even though diamond sales dropped significantly in the first and second quarters of 2020, you continued to save the industry from total collapse and to this extent we are beginning to notice an improvement in sales, albeit minimally.”
Debswana, a joint venture between Botswana and De Beers produced 12.3 million carats in the first nine months of the year, down 29% compared to the same period of 2019.
Botswana's rough diamond exports dropped by about 66% in the third quarter compared with the same period last year due to the COVID-19 pandemic, according to data released by the central bank.
Botswana's borders were closed in March, which made it difficult for foreign diamond buyers to travel to the southern African country for monthly diamond sales conducted by De Beers in Gaborone.
Botswana gets about 30% of its government revenues from diamonds, which account for 70% of exports.
Meanwhile, Masisi said the diamond industry in Botswana is now open for business and the local beneficiation initiative is now operational with international transactions taking place.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
