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Debswana rough sales down 25% in 2023

Rough diamond sales at Debswana fell by just over a quarter (25.1 per cent) to $3.44bn in 2023, according to new figures released by the Bank of Botswana.

The company - jointly owned by De Beers and the Botswana government - said it would reduce its 2024 output to reflect slower demand globally. Production in 2023 was up 2 per cent to 24.7m carats.It achieved record sales of $4.59bn in 2022, but has been hit by the economic slowdown and the rising popularity of lab growns.

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