Botswana Joins Antwerp to Certify Diamonds Amid G7 Ban

Botswana will certify rough diamonds for export to the G7, joining Antwerp after a ban on Russian stones. The move addresses concerns from African diamond producers about the initial system, which required all diamonds to pass through Antwerp. A roadmap for Botswana's certification is being developed.

Botswana, a major diamond producer in Africa, is set to join Antwerp as a certifier of rough diamonds for export to the G7. This step comes in response to the G7 ban on Russian diamond imports, effective since the start of the year.

The inclusion of Botswana aims to address concerns from African diamond producers, including Angola and Namibia, about the initial system, which required all diamonds to be verified at Europe's diamond hub in Antwerp. The producers argued this mechanism would unfairly impact their economies.

A roadmap is being collaboratively developed by Botswana and the G7 technical team to fill any gaps with the export certification node expected to be operational in Botswana next year, as the EU postpones its tracing system to March 2025.

(With inputs from agencies.)