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Diamond industry on sickbed again

Diamond industry on sickbed again

De Beers group says it will not hold its third sight which was scheduled for this week in Gaborone due to movement restrictions that have been put in place.

The announcement is a major blow, not only to the diamond industry which was on deathbed last year, but to the country’s revenue base as the country relies on diamonds for the majority of its revenue.

The diamond industry was expected to recover this year and signs began to show during the first sight of the year when rough diamond sales amounted to US$545 million which was more than US$500 million registered during the same period ...

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