Gaborone, Botswana, Jan 21, 2026 (AFP) - Botswana warns diamond oversupply to hit growth

NAMPA / AFP
2026-01-21
Botswana is sitting on nearly double its permitted diamond stockpile as weak prices and rising competition from lab?grown stones curb demand, the government said, warning the glut will weigh on economic growth. The cash-strapped southern African country, the world's second largest diamond producer after Russia, relies on the gems for about a third of its GDP. It held 12 million carats at the end of December, far above the 6.5 million government......
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