Botswana’s Okavango earns $567m, highest annual sales since formation

2018-1-19

Botswana’s Okavango Diamond Company (ODC) earned $567-million last year following a 4 percent rise in sales, the highest annual sales since its formation in 2013. 
Reuters quoted the company managing director Marcus ter Haar as saying that the State-owned company sold 3.41-million carats of diamonds in 2017. 
He also said that demand for diamonds was healthy last year, while prices firmed in the first half and weakened from July through to November. 
"December saw rough (diamond) prices beginning to strengthen and all things being equal, together with what seems to have been a favourable season in the US and China, ODC remains cautiously optimistic for the first half of 2018,” he said. 
ODC sells 15 percent of the production of Debswana, a joint venture between De Beers and Botswana’s government. 
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished 

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