Botswana Bets Big: Debswana's Diamond Production Surge

Botswana's Debswana Diamond Company is set to increase diamond production by 20% this year, aiming to boost an economy affected by global diamond market downturns. Production is slated to rise from 15 to 18 million carats by 2026. This move seeks to stabilize Botswana's economy heavily reliant on diamond revenues.

Botswana's Debswana Diamond Company is poised to expand diamond output by 20% this year, according to a central bank official. This increase aims to revitalize an economy hit hard by a slump in the global diamond market.

Debswana, a joint venture between the Botswana government and De Beers, plans to raise production from 15 million carats last year to 18 million by 2026. The initiative follows a previous production cut due to weak demand.

Managing Director Andrew Motsumi announced that Debswana is streamlining operations to enhance efficiency, targeting a significant 33% reduction in annual operating costs by 2028.