BOTSWANA’S DIAMOND STOCKPILE HITS 12 MILLION AS GLOBAL SLUMP DEEPENS

BOTSWANA’S DIAMOND STOCKPILE HITS 12 MILLION AS GLOBAL SLUMP DEEPENS

Botswana’s diamond reserves have swollen to about 12 million carats, almost double the government’s target inventory, as global demand slumps and rough prices remain weak.

The diamond stockpile reached 12 million carats by December 2025, representing an 85% overage above the government’s established ceiling of 6.5 million carats. According to Mining Weekly, this stockpile growth has persisted despite ongoing efforts to reduce production levels.

The economy is forecast to shrink again after ongoing soft demand forced Debswana to halt production at some mines.

Mineral export revenue is projected far below historical averages.  Higher tariffs in key markets like the U.S. and India could further depress prices and squeeze profit margins, underscoring the urgency of economic diversification.