According to a new research report by diamond giant De Beers global demand for diamond jewellery reached a record high of $79 billion in 2013. Demand is expected to continue to grow over the long term, driven by the on going economic recovery in the US (the world's largest diamond jewellery market) and the growth of the middle classes in developing markets such as China and India.
Sales of polished diamonds in the US increased 7% in 2013, while both India and China have seen their domestic diamond jewellery markets grow by a compound annual growth rate of 12% in local currency terms between 2008 and 2013.
Botswana is located in Southern Africa bordering Zambia, Zimbabwe, Namibia, and South Africa. Botswana at the moment is the largest diamond producing country in both Africa and the whole world. The first discovery of diamonds in Botswana was made by geologists in 1967. Botswana has some of the highest yielding mines in the world and has been a leading producer of diamonds since 1999. The Jwaneng and the Orapa diamond mines in Botswana rank as the first and second biggest diamond mines in the world, estimated to produce $2.4 Bn and $1.2 Bn worth of diamonds in 2015 respectively. That is interms of value and volume produced. The total estimated diamond by carats to be produced by Botswana this year is abount 24 million carats.
The Appel Consulting Diamond Mining Congress will provide a platform for leaders in the industry to discuss and debate the most pressing issues facing sub-saharan africa.