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.
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.