{"id":7073,"date":"2022-05-16T18:22:24","date_gmt":"2022-05-16T18:22:24","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=7073"},"modified":"2022-05-16T15:25:12","modified_gmt":"2022-05-16T15:25:12","slug":"botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems","title":{"rendered":"Botswana sees Russian diamond ban opening door to synthetic gems"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Botswana, Africa\u2019s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country\u2019s minister told a mining conference on Monday.<\/b><\/p>\n

The United States, the world largest market for natural diamonds, imposed sanctions on Russia\u2019s state-controlled Alrosa ALRS.MM in April, aiming to cut off a source of revenue for Moscow after its February invasion of Ukraine.Read full story<\/p>\n

Alrosa, the world\u2019s largest producer of rough diamonds, accounted for about 30% of global output in 2021.<\/p>\n

Botswana\u2019s Minister of Minerals and Energy Lefoko Moagi said the ban on Russia diamonds might push prices up to the benefit of rival producers but he also said the gap would be hard to fill.<\/p>\n

\u201cWe see the 30% gap that will be left by the ban being plugged by something else that is not natural. And for us that will be a challenge,\u201d he said.<\/p>\n

Jacob Thamage, head of Botswana\u2019s Diamond Hub, said uncertainty over the Ukraine conflict makes it difficult for Botswana and other natural diamond miners to fill the supply gap as ramping up operations requires significant investment.<\/p>\n

\u201cYou don\u2019t want to invest a lot of money to up-scale and then the war ends the next day,\u201d Thamage said. \u201cWe also see the higher prices pushing consumers to substitutes such as the synthetics and this can cause problems for us if we cede the market to unnatural stones.\u201d<\/p>\n

Sales at Debswana, a joint venture between Anglo American AAL.L unit De Beers and Botswana\u2019s government, accounts for almost all of Botswana diamonds exports. These stood at $3.466 billion in 2021 compared with $2.120 billion in 2020.Read full story<\/p>\n

Thamage also fears that consumers might start to shun natural diamonds due to traceability issues.<\/p>\n

\u201cThere is an increased fear that buyers of diamonds will begin to treat all natural diamonds as conflict diamonds and therefore shift to unnatural diamonds,\u201d he said.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Botswana, Africa\u2019s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country\u2019s minister told a mining conference on Monday. The United States, the world largest market for natural diamonds, imposed sanctions on Russia\u2019s state-controlled Alrosa ALRS.MM in April, aiming to […]<\/p>\n","protected":false},"author":84,"featured_media":7072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,237,234],"class_list":["post-7073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nBotswana sees Russian diamond ban opening door to synthetic gems - Botswana<\/title>\n<meta name=\"description\" content=\"Botswana, Africa\u2019s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Botswana sees Russian diamond ban opening door to synthetic gems\" \/>\n<meta property=\"og:description\" content=\"Botswana, Africa\u2019s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-16T18:22:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/05\/img-62826cc177773.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"910\" \/>\n\t<meta property=\"og:image:height\" content=\"569\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Botswana sees Russian diamond ban opening door to synthetic gems\",\"datePublished\":\"2022-05-16T18:22:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\"},\"wordCount\":344,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/05\/img-62826cc177773.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/botswana-sees-russian-diamond-ban-opening-door-to-synthetic-gems\",\"name\":\"Botswana sees Russian diamond ban opening door to synthetic gems - 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