Botswana seeing soft recovery in diamond demand, mines minister says
Botswana's mines minister reports a soft recovery in diamond demand in the U.S. and China, though the country remains committed to supply discipline. Negotiations regarding the sale of De Beers are in their final stages.
Why it matters
As a major diamond producer, Botswana's market strategy significantly impacts the global luxury and gemstone economy.
Key Points Botswana sees soft demand recovery in United States, China Debswana paused output at some mines last year amid slow market De Beers sale talks are in last stages , minister says Diamonds are displayed during a visit to the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana November 24, 2015. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG, June 23 (Reuters) Botswana is seeing a soft recovery in diamond demand in key consumer markets such as the U.S. and China, its mines minister Bogolo Joy Kenewendo said on Tuesday, in part supported by a global marketing campaign for its natural diamonds.
The report relies on official statements and market data regarding the diamond industry.
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