Namibia ranks among top five diamond exporters in Africa

Namibia ranks among top five diamond exporters in Africa

The Kimberley Process Certification Scheme (KPCS) has revealed that Namibia is among the top five African diamond exporters, ranking fourth behind Botswana, Angola and South Africa.

This comes after Namibia extracted 2,1 million carats worth an estimated N$23 billion (US$1,2 billion) last year.

According to KPCS, the country’s diamond exports amounted to 1,8 million carats, worth N$17,7 billion (US$942,4 million), with the average export value per carat standing at approximately N$10 000 (US$533,6).

On the other hand, Namibia imported 94 000 carats valued at N$2,7 billion (US$145,4 million), with an average value per carat of around N$29 156 (US$1 546).

Despite producing fewer diamonds by volume compared to other African producers, its high average value per carat solidifies its place among the top players.

Based on exports, Namibia ranks among the top three African nations in the diamond industry.

The country imported 51 KPCS-certified diamonds and exported 241, as KPCS data reveals Namibia is among the top five producers in Africa, despite countries like Botswana, the Democratic Republic of Congo, and South Africa producing higher volumes of diamonds.

In the first half of this year, Namdeb produced 0,230 million carats of rough diamonds from its land-based operations, a 50% increase from 0,153 million carats produced in the prior year.

Debmarine Namibia’s production in the period under review increased by 0,503 million carats from 0,077 million carats in the second quarter of 2022.

Debmarine’s total production for the six months, according to De Beers production figures, has increased by 16% to 1,001 million from 0,863 million.

De Beers’ rough diamond production decreased by 5% year on year to 7,6 million carats in the second quarter because of the planned reduction in South Africa.

Rough diamond production in Botswana increased by 6% year on year to 5,8 million carats, driven by the planned treatment of higher-grade ore at Orapa, but partially offset by lower throughput at Jwaneng owing to planned maintenance.

Despite the lower second-quarter production, De Beers expects to meet its full-year production guidance of 30 million to 33 million carats. – The Brief

Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!