Botswana di­a­monds los­ing their sparkle

Weekend Argus (Saturday Edition) - - LIFE -

GABORONE: The Botswana gov­ern­ment says the value of rough di­a­monds sup­plied to lo­cal cut­ting and pol­ish­ing firms dropped by nearly half in 2015 due to sub­dued lo­cal pro­duc­tion and re­duced de­mand in the global mar­ket. Min­er­als, En­ergy and Wa­ter Re­sources min­is­ter Kitso Mokaila said two out of 21 com­pa­nies that were op­er­at­ing in Gaborone at the be­gin­ning of 2015 had closed shop­due to vi­a­bil­ity prob­lems. He said de­spite the down­turn in the mar­kets, the di­a­mond cut­ting and pol­ish­ing in­dus­try would soon sta­bilise and re­turn to prof­itabil­ity. All lo­cal cut­ting and pol­ish­ing con­cerns have rough di­a­mond sup­ply con­tracts with De Beers.

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