Fewer diamonds from the mines: Botswana will cut back its 2025 output of diamonds by 16% in comparison to the 12 months sooner than.
With global demand for diamonds falling and lab-grown diamonds becoming a more cost-effective replace, diamond mining companies are struggling. And for a rustic love Botswana, where diamonds put up 80% of its export income, this situation is in particular laborious-hitting.
Debswana, which is Botswana’s perfect diamond production company, accounting for 90% of sales, saw its income tumble by nearly half closing 12 months.
Faced with the weak global demand, Debswana announced in Might perhaps that it would rapid conclude production at its flagship Jwaneng mine in addition to at the Orapa mines, the arena’s perfect by position.
To present the economy a small enhance, Botswana’s president has known as for diamonds to be polished and cut locally rather than exporting the dear stones raw.
Nevertheless the country will likely agree with to diversify its income additional in deliver to wait on its faltering economy back on its feet.
