Botswana’s Debswana annual diamond sales jump 64% according to news. Debswana Diamond Company’s rough diamond sales jumped 64% in 2021, according to data released by the Bank of Botswana on Monday, as key global consumer markets reopened. Central bank data shows that the total value of Debswana’s diamond exports in 2021 was $3.466 billion, up from $2.120 billion in 2020.
Debswana, a joint venture between De Beers Anglo-American and the government of Botswana, sells 75% of its production to De Beers, with the state-owned Okavango Diamond Company receiving the remainder.
Debswana’s sales fell 30% in 2020 as the corona virus pandemic hit demand and global travel restrictions hit businesses. Since mid-2020, De Beers has moved some of its rough diamond screenings to international diamond centers such as Antwerp to cater to customers who cannot travel to Gaborone.
“Demand for rough diamonds remained strong, with positive mid-market sentiment and strong demand for diamond jewelry throughout the holiday period, especially in the key US consumer market,” Anglo American said in a production report last Thursday.
Debswana is responsible for nearly all of Botswana’s diamond exports, with Lucara Diamond Corp’s Karowe mine being the only operating diamond mine in the country.
Botswana receives about 30% of its income and 70% of its foreign exchange earnings from diamonds. The South African country expects its economy to grow by 9.7% in 2021 after shrinking by 8.5% in 2020.
Anglo American said Debswana production rose 35% to 22.326 million carats in 2021 from 16.559 million carats in 2020.
Russia’s ALROSA, the world’s largest diamond producer and competitor to De Beers, saw revenue rise 49% last year to $4.2 billion as demand outpaced supply.
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About Debswana Diamond Company
Debswana Diamond Company started in 1969. Shares of Government of Botswana and The De Beers Group of Companies are same in this company. Debswana is top ranked diamond producer in world. It mined more in volume and value than any other company. At this moment it runs four diamond mines in Orapa, Letlhakane, Damtshaa and Jwaneng.
Debswana is prime supporter of the country economy. It contributes in gross domestic product, foreign exchange and national revenue. Debswana Diamond Company accommodates more than 5527 employees. De Beers get more diamond from this company.
Debswana Diamond Company adopted good safety in mining and work responsibly. It enhances the quality and economy of the community nearby mines and increases national economy.
