Record Botswana diamond sales in 2022

Diamond Pic File photo

Wed, 1 Feb 2023 Source: bbc.com

Sales of diamonds from Botswana reached record levels last year due to Western buyers shunning Russian stones and steady global demand for diamond jewellery.

Botswana generates almost a third of its revenue and around 70% of its foreign exchange earnings from diamonds.

Almost a third of the world's diamonds would normally come from Russia.

But because of its war in Ukraine there have been sanctions and some buyers have been looking elsewhere. Botswana has benefited.

The government's joint venture with the mining giant De Beers - known as Debswana - sold a record $4.5bn (£3.6bn) worth of rough or uncut diamonds last year.

Source: bbc.com
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