Botswana Rough Diamond Exports Drop in May From April

(IDEX Online News) –Botswana exported $267.7 million of rough diamonds in May, compared with $402.2 million in April, according to Bank of Botswana figures.

The bank reported that rough exports in the first quarter of this year amounted to $718.9 million compared with $826.8 million in the year-earlier period.

The central bank did not publish figures relating to polished exports in April or May in its latest release. However, in the first quarter, exports of polished diamonds were $102.0 million compared with $160.5 million in the year-earlier period.

Total diamond exports in the first three months of this year were $1.771 billion – a significant rise on the $1.018 billion recorded a year before – indicating the rising volumes of diamonds being exported from the country as the Diamond Trading Company shifts its operations to Gaborone from London.

That move is expected to be completed by September-October, with the first DTC sight taking place in Botswana in November, according to Executive Vice President of De Beers Global Sightholder Sales, Varda Shine.