Namibia Increases Diamond Production in 2023

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Namibia Increases Diamond Production in 2023

Namibia’s rough diamond production increased by 9 per cent during 2023 to 2.33m carats.

Marine diamonds, which account for the majority of its output, were up 8 per cent to 1.86m carats, according to Debmarine Namibia figures.

Land-based production, overseen by Namdeb, increased 14 per cent to 468,000 carats.

Despite the overall annual increase, fourth quarter output for land and marine diamonds combined slipped 4 per cent to 590,000 carats.

Namibia, the world’s eighth biggest diamond-producing country, has voiced concerns that new G7 sanctions on Russia may add cost and complication to its own operations.

But it may soon get an increased share of diamonds from kits deal with De Beers. Namdia, the state-owned diamond company is due to review its 10-year deal with De Beers in 2026.

It currently receives 15 per cent of the diamonds produced by Namdeb, the 50/50 joint venture between the government and De Beers.

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.