Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

09 december 2024

Sluggish demand cuts Debswana's diamond sales by 25.1% in 2023

05 march 2024

Debswana Diamond Company, a joint venture between Botswana and Anglo American's De Beers, recorded a 25.1% decrease in sales of rough diamonds in 2023, according to data from Botswana's central bank.

The decline was due to an economic slowdown affecting the demand for luxury goods in the US and China, as well as heightened competition from lab-grown diamonds.

The central bank confirmed that Debswana's diamond sales decreased from $4.59 billion in 2022 to $3.44 billion in 2023, after achieving record sales in the previous year.

Debswana's production increased by 2% to 24.7 million carats in 2023, and the company has announced plans to reduce production this year in line with market conditions.

Debswana's senior corporate relations manager, Matshidiso Kamona told Reuters in January that the company planned to decrease production due to lower demand for rough diamonds in the global market, but did not disclose the production goal for 2024.

India, which processes 90% of the world's rough diamonds, put a stop to imports for two months in late 2023, while Okavango Diamond Company (ODC) called off its auctions scheduled for November and December.

Debswana sells 75% of its production to De Beers, while the remaining portion is purchased by the state-owned ODC.

However, Botswana and De Beers reached a new 10-year diamond sales agreement mid-last year.

This deal will increase ODC's share of Debswana output to 30%, with a gradual increase to 50% by the conclusion of the contract.

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