Botswana’s diamond exports almost double

Data released by the Bank of Botswana (BoB) on Monday show that diamond exports in May were nearly 20% down from May 2011, reports Mmegi online.

In United States dollar terms, May exports were pegged at $324 million, being nearly 45% from their April levels.

“This (was) on account of exports of polished diamonds that were inadvertently excluded from the previous estimates,” the BoB said. “The estimates for diamond exports combine sales data for rough diamonds provided by the Diamond Trading Company Botswana (DTCB) with exports of polished diamonds taken from the trade statistics produced by Statistics Botswana.

“The latter are available only after a lag of one to two months, resulting in sometimes significant upward revisions to the initial estimates, which only include rough diamonds.”

 Minister of Minerals, Energy and Water Resources, Ponatshego Kedikilwe, said the country may move away from its dependence on diamonds and that it is currently evaluations other resources, such as coal.
How we made it in Africa reports Botswana  is in the process of establishing a Coal Development Unit (CDU) to facilitate development of the entire coal value chain from mining, coal washing, power generation, transportation, storage at ports to shipping.