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Botswana First Half Rough Exports -15%

Oct 1, 2015 3:26 AM   By Rapaport News
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RAPAPORT... Exports of rough diamonds from mines in Botswana fell 15 percent in the first six months of 2015 to $1.7bn (Pula 18 billion). August exports totaled $358.5 million, according to the Bank of Botswana.

Most of the exports are from Debswana, a joint venture between the Botswana government and De Beers. Debswana produced 4 percent less in the first six months of the year than in the same period in 2014, Reuters reported. The company earlier cut its full-year production target to 20 million carats from 23 million carats.

Diamond exports contribute 30 percent to the gross domestic product of the southern African nation but diamond demand had slowed since late 2014 due to the strengthening dollar against the Pula and liquidity problems.
Tags: Botswana, Debswana, exports, Rapaport News
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