Botswana Diamonds

$300m Loan to Boost Okavango Diamond Purchases

Botswana’s state-owned diamond marketing company will increase its borrowing to fund additional rough purchases. Finance Minister Peggy Serame said last Thursday (29 August) that the government had arranged a $300m credit facility, with the Standard Chartered Bank for the Okavango Diamond Company (ODC). It hopes to capitalize on a long-awaited recovery the global diamond market. … Read more

De Beers Rough Production Down 15%

De Beers reported a 15 per cent drop in its global diamond production in Q2, as demand remained weak for yet another quarter. The H1 figure (16.5m carats) is down 19 per cent on the same period in 2023. The total number of carats recovered during Q2 2024 was 6.4m, down from 7.6m year-on-year. Botswana, … Read more

Botswana Diamonds expands its land holdings in the Kalahari

Diamond exploration company Botswana Diamonds has been granted four prospecting licences – covering just under 2 332 km2 – in the Kalahari of Botswana. The prospecting licences are in the same general area as Gem Diamonds’ Ghaghoo mine, as well as Botswana Diamonds’ own KX36 project. “I am pleased that we have been awarded these … Read more

Botswana Assigns $65M for Stake in Belgian Manufacturer

Botswana has designated BWP 890 million ($65 million) from its new fiscal 2024-2025 budget for the purchase of a 24% stake in Belgian manufacturer HB Antwerp. The deal, which it first announced in March, calls for the African country to supply rough from state-owned Okavango Diamond Company (ODC) to HB Botswana for five years. The … Read more