Botswana 'feares' synthetic diamonds

Rough diamonds are mined in Botswana.

Diamonds currently account for 40% of Botswana's annual government revenue, one-third of national production, and 75% of its foreign exchange earnings. In 2022, Botswana produced 20% of the world 's rough diamonds (after Russia) and was the world's leading producer of mined diamonds in terms of value.

However, the natural diamond market has not been thriving for the past two years, partly due to the increasing number of consumers favoring cheaper lab-grown diamonds.

Synthetic diamonds are gradually replacing natural diamonds.

Mr. Masisi is preparing to participate in the JCK Show, the world's largest jewelry exhibition, this year being held in Las Vegas, Nevada, from May 31st to June 3rd. His goal at this event is to promote Botswana as the world's leading producer of naturally sourced diamonds.

Source: https://thanhnien.vn/botswana-so-kim-cuong-nhan-tao-185240530210218699.htm