Debswana, the 50/50 joint venture between Botswana Government and De Beers Group, rose to production glory in the year 2022, reaching an eight (8) year-high with 8 percent increase to 24.14 million carats from 22.3 million carats recovered in the prior year 2021.
The last time the diamond mining giant surpassed the 24.14 million figure was in 2014 with 24.2 million carats produced that year. The rough diamonds behemoth significantly curtailed production to 20 million carats in 2015 and 2016 due to mid-stream overstocking and weak demand before going up to 22.6 million in 2017 and 24.13 million in 2018.
In 2019, production was reduced in response to lower demand occasioned by the US-China trade war which shrunk business activity and rough trading in the midstream.
2020 saw the diamond giant significantly drop production to 16.5 million carats in response to COVID-19 pandemic which put world economies to a standstill due to travel restrictions and shutdown of cutting and polishing firms worldwide.
The 24.14 million carats produced by Debswana accounted for over 69 percent of De Beers’s total production which closed the year 2022 at 34.6 million carats. Debswana’s flagship operation, the Jwaneng Mine, popularly known around the diamond mining circles as the “Prince of Mines”, produced over 13 million carats in 2022, surpassing all other De Beers operations in Namibia, South Africa & Canada combined, rubberstamping its position as both Debswana & De Beers’s golden goose.
Debswana, the 50/50 joint venture between Botswana Government and De Beers Group, rose to production glory in the year 2022, reaching an 8 year-high with 8 percent increase to 24.14 million carats from 22.3 million carats recovered in the prior year 2021.
The last time the diamond mining giant surpassed the 24.14 million figure was in 2014 with 24.2 million carats produced that year. The rough diamonds behemoth significantly curtailed production to 20 million carats in 2015 and 2016 due to mid-stream overstocking and weak demand before going up to 22.6 million in 2017 and 24.13 million in 2018.
In 2019 production was reduced in response to lower demand occasioned by the US-China trade war which shrunk business activity and rough trading in the midstream.
2020 saw the diamond giant significantly drop production to 16.5 million carats in response to COVID-19 pandemic which put world economies close to a standstill due to travel restrictions and shutdown of cutting and polishing firms worldwide.
The 24.14 million carats produced by Debswana accounted for over 69 percent of De Beers’s total production which closed the year 2022 at 34.6 million carats. Debswana’s flagship operation, the Jwaneng Mine, popularly known around the diamond mining corridors as the “Prince of Mines” produced over 13 million carats in 2022, surpassing all other De Beers operations in Namibia, South Africa & Canada combined, rubberstamping its position as both Debswana & De Beers’s golden goose.
