【Botswana】Botswana Claims Diamond Tender Didn’t ‘Fail,’ Wasn’t ‘Emergency’ Auction

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Editor’s Note

This article clarifies statements from Botswana’s Okavango Diamond Company regarding its recent rough diamond tender, addressing market speculation about the sale’s purpose and timing.

Diamond merchants examine diamonds on the streets of Mahidharpura, Surat image
Botswana: Diamond Tender Didn’t ‘Fail,’ Wasn’t ‘Emergency’

October 8, 2025

Leah Meirovich

Botswana’s state diamond trader said its recent tender of about 1 million carats in rough was not an “emergency” sale and that it chose to withhold goods to allow it to manage the market.

Okavango Diamond Company (ODC) claimed that recent reports the tender it held on September 25 was an ad-hoc event to help raise revenue for the country are false. The trader receives 30% of rough production Debswana, a joint venture between Botswana and De Beers, produces. The run-of-mine sale was “planned well in advance” and registered in July, it said Monday.

It also stated that it did not “fail” to sell goods at the tender, and that 95% of registered companies submitted “competitive bids” for its goods. However, it decided to withhold the goods from the market.

“ODC made a deliberate and prudent decision to withhold certain goods…to protect the long-term health and stability of the diamond sector,” the state trader said Monday.
“As custodians of Botswana’s national treasure, our priority is safeguarding the value of our diamonds,” said ODC managing director Mmetla Masire. “Sometimes, leadership means knowing when not to sell. Withholding goods in the short term ensures better outcomes for the market, for Botswana, and for our partners. We will not join the race to the bottom on prices.”

Image: Rough diamonds. (Okavango Diamond Company)

Rough diamonds from Okavango Diamond Company image
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⏰ Published on: October 08, 2025