Botswana Diamond Mine Production Halts Amidst Global Demand Decline
Debswana, responsible for approximately 90% of Botswana’s diamond sales, has temporarily closed its Jwaneng and Orapa mines for three months due to weak global diamond demand and increased market pressures. This production pause aims to achieve significant cost savings amidst a decline exacerbated by lab-grown alternatives and US tariffs. The closure will negatively impact Botswana’s foreign exchange earnings, heavily reliant on diamond sales, leading to a near-zero economic growth forecast for 2025. While no forced layoffs are planned, voluntary redundancy options are available.
John Q. Hosedrinker