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Market NewsNewsDe Beers sees strong demand for rough H2

De Beers sees strong demand for rough H2

Projected robust demand for rough diamonds in the second half of the year is expected to lift Debswana’s production to peak levels last seen in 2014, Mmegi Business has established, the newspaper reported.

Debswana produced 24.2 million carats in 2014 before mid-stream overstocking and weak demand forced a limiting of production to 20.4m in 2015 and 20.5m carats in 2016.  In April, the diamond giant revealed it was targeting 20.5m this year, but last week, a De Beers executive confirmed the figure would likely be closer to 22 million, the Mmegi report said.

De Beers executive head (strategy and corporate affairs) Gareth Mostyn told Mmegi Business the prospects for healthy demand in the second half of the year were looking strong. 

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