Botswana’s state-run diamond trader Okavango Diamond Company sold $963 million of rough diamonds last year almost fivefold after US imports recovered from a Covid-19 induced slowdown.
Bloomberg quoted company spokesperson Dennis Tlaang as saying that the revenue recorded was the highest since the company commenced operations in 2012.
“The demand for natural rough diamonds remained strong throughout 2021 driven primarily by positive market sentiment in key markets such as the United States,” he said.
Tlaang said sales are projected to rise again this year as De Beers continued with diamond price increases this year.
“We believe this is a good indicator of the market dynamics of 2022, at least for the first half of the year,” he said.
“The company will continue to drive customer participation by marketing its rough diamond assortment in key markets such as Antwerp and Dubai.”
Okavango acquires 25% of Debswana’s annual production for independent marketing.
Debswana's production increased by 35% to 22.326 million carats in 2021 from 16.559 million carats in 2020.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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