The Jwaneng mine in Botswana, currently the world's most valuable, is transitioning from open pit to underground operations. This expansion project comes amidst a global decline in natural diamond supply, according to a report in The Blunt.
The Surat diamond industry, known as the world's diamond capital, breathed a sigh of relief as De Beers Group and the Government of Botswana announced a $1 billion investment in the Jwaneng underground diamond mine.
Surat, the world’s largest diamond cutting and polishing center, consumes a significant portion of the world’s rough diamonds. The US and G7’s sanctions on Russian diamonds have further constricted the supply chain, causing prices to rise by 20% in the last year alone.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
