The Botswana government owned Okavango Diamond Company (ODC) said that it sold 3.41 million carats of rough diamonds in 2017 for revenue of US$ 567 million, an increase of 4% over the sales figures for the earlier year, according to reports in the local media. ODC, which began operations in 2013, is allotted 15% of the total production of Debswana.

This is the highest level of sales recorded in the five years since it was set up, the reports stated.

Quoting ODC MD Marcus ter Haar, the reports said demand and prices were healthy during the first half of the year. However, sales were weak between July and November, he said.

Both prices and demand strengthened to some extent in December, the MD said, adding that after what seems to have been a favourable season in the US and China, the Company was cautiously optimistic about sales in the first half of the new year.