This shift is part of the Southern African nation's strategy of diversifying its economy beyond reliance on mere diamond production. To further this goal, the government of Botswana developed the Okavango Diamond Trading Company and plans to begin sales this year. Meanwhile, businesses throughout the diamond pipeline, from cutting and polishing to financing and freight, are flocking to this emerging diamond hub.An increase in diamond demand in 2011 prompted Debswana to restart its Damtshaa mine. The company announced that production resumed in January 2012 after two years of suspended operations.
Weakness And Caution: The Diamond Market In 2012
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts