Botswana diamond giant Debswana slashes output as demand falls

Botswana’s main diamond company, Debswana, has paused production at some mines due to a prolonged downturn in global demand, with sales revenue dropping by nearly 50% last year. The company plans to reduce output to 15 million carats in 2024, a 40% decrease, while temporarily closing its Jwaneng and Orapa mines for three months to achieve cost savings. Despite the challenges, Debswana has stated there will be no involuntary job cuts, although voluntary redundancy options are available, as Botswana prepares to cut its 2025 economic growth forecast to nearly zero.

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