Botswana diamond exports triple

Gaborone (Botswana), April 12: Botswana’s diamond exports bounced back from a four-month slump in February, rising to 2.23 billion pula (nearly $306 million) or three times their level in January, the Bank of Botswana has said.

The bank’s data shows diamond exports, both rough and polished, in February 2012 was 89 percent higher than the December sales, Xinhua reported.

Sales slumped from a record $10.1 billion pula ($1.3 billion) in the third quarter to 6.2 billion pula ($823.9 million) in the fourth quarter of 2011, on weakening demand in the key US and the Euro zone markets, owing to economic crises.

Last week, De Beers Botswana CEO Neo Moroka told reporters that the demand for diamonds has been strong at auctions held by the Diamond Trading Company Botswana (DTCB) since the beginning of the year.