Debswana rebounds eight months after border closure

2021-12-06 15:58:53 By : Mr. Bruce Huang

(IDEX Online)-Debswana exported $2.589 billion in rough diamonds in the first nine months of 2021-an increase of 73% over the same period last year. The company is a joint venture between De Beers and the government of Botswana. Sales in 2020 have fallen by 30%, from $3.05 billion in 2019 to $2.02 billion. The Bank of Botswana announced 2021 sales data on Tuesday. Botswana closed its border for eight months last year, forcing De Beers to relocate sightholders’ viewing locations. Driven by demand from the United States and China, Debswana has recovered from the blockade and travel restrictions. In June, Debswana announced that it had recovered 1,098 carats of diamonds in Jwaneng (pictured)-the third largest diamond in the world. The most valuable diamond mine in the world. Debswana said in April that after 50 years of open-pit mining, plans to switch to underground mining should help generate more than US$920 million in additional revenue over the next four years.