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Botswana Considers Lab-Grown Diamonds Threat to Its Economy, President Says

CC0 / George Hodan / Cracked diamant
Cracked diamant - Sputnik Africa, 1920, 31.05.2024
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According to reports, De Beers, Botswana's long-standing partner and the top diamond producer globally in terms of diamond value, experienced a decrease in rough diamond sales from $6 billion to $3.6 billion last year.
Botswana considers lab-grown diamonds a threat to its economy, the country's President Mokgweetsi Masisi said.
Diamonds are reportedly the driving force behind Botswana's economy, providing about 40% of government revenue, almost a third of the country's GDP and 75% of foreign exchange earnings.
A model holds the 'Letseng Legacy' diamond is shown at the World Diamond Center in Antwerp, Belgium, Wednesday, Nov. 14, 2007. The 493 carat diamond, the 18th largest in the world, was recovered from the Letseng Le Terai mine in Lesotho on Sept. 7, 2007.  - Sputnik Africa, 1920, 06.04.2024
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Last year, De Beers, Botswana's historic partner and the world's leading diamond producer in terms of the value of diamonds mined, saw rough diamond sales fall from $6 billion to $3.6 billion, as per media.
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