Botswana diamond exports nosedive

Botswana diamond sales have been greatly affected by the Covid-19 pandemic that has seen sales volume dropping by two thirds, Reuters reports. This according to the publication was caused by low demand which was also exacerbated by travel restrictions which grounded many operations.

Statistics show a worrisome trend as Bostwana’s borders remain closed since March 2020 as a Covid-19 containment measure. Reuters reported that exports of diamonds from Debswana, a joint venture between Botswana and diamond mining giant De Beers, a unit of Anglo American, stood at US$293 million in the second quarter of 2020, from US$916 million in the preceding period.

No exports were recorded in May, while only US$20 million worth of diamonds were exported in June, the Bank of Botswana’s data showed. — Reuters.