Okavango Diamond Company, a rough distribution company set up by the Government of Botswana that is entitled to sell 15% of Debswana’s diamond production, has reported an 80% increase in the revenue earned from rough diamond sales in 2016, according to reports in the African media.

The Company’s Deputy MD, Marcus ter Haar was quoted as saying that revenue from sales rose to $ 547 million in 2016 due to an improvement in global consumer demand. In volume terms, sales soared 115% to 3.44 million carats after taking various post sale adjustments made through the year, he added.

The report says that the Company realised an average price per carat of $ 158.78, significantly lower than the $183.78 achieved in 2015. The Dy MD said that this was due to the different mix of diamonds sold over the two periods.