Debswana Halts Some Diamond Output to Save Cash During Downturn

Debswana, the diamond mining joint venture between De Beers and Botswana’s government, said it has halted some production at its biggest mine as it looks to save money amid a downturn in demand.

Debswana is attempting to cut costs as it adapts to the lower diamond production laid out by De Beers earlier this year, which continues to target a range of 20 million to 23 million carats in 2025.

The diamond industry is grappling with one of its worst downturns in decades after being hit by a collapse in Chinese demand and fierce competition from synthetic stones. While there ...