Botswana’s diamonds aren’t forever
Botswana has relied upon diamond mining for economic growth and political stability for many years. Diamond mining currently accounts for over one-third of GDP, the vast majority of export earnings, and about half of the government’s revenues. However, the drive for greater economic diversification is gathering pace as diamond production is expected to levels off over the next decade and reserves are set to run out in around 20 years’ time. As diamond mining runs its course, the sustainability of the diamond sector in Botswana will instead focus on downstream operations. A promising start on this route will see De Beers Group complete the relocation of its diamond sorting, aggregation and sales activity to Gaborone in 2013.