Debswana H1 rough diamond sales grow 54%

Debswana, a 50/50 joint venture between De Beers and the government of Botswana sold rough diamonds worth $2,6 billion in the first half of 2022, a growth of 54% compared to $1,7 billion, a year earlier, according to data released by the country’s central bank.
The diamonds were sold to De Beers’ sightholders and the state-owned Okavango Diamond Company.
The year began with healthy demand and inventory conditions throughout the diamond pipeline as retailers restocked in the first two months of the year – with polished diamond prices rising on the back of the strong trading environment, according to De Beers.
The Bank of Botswana’s data shows that Debswana sold diamonds worth $673.1 million last January. The diamond sales dropped to $82.1 million in February.
The sales rebounded in March as Debswana sold diamonds worth $336.8 million and $511.4 million in April.
The central bank data showed that Debswana raked in $406 million and $612.7 in May and June, respectively.
Debswana production rose 10% to 11.7 million carats in the first six months of the year compared with 10.7 million carats, the previous year.
The increase was attributed to improved processing of ore at both Orapa and Jwaneng, as well as planned higher grade at Orapa.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished