Botswana CEO sells 1 million carats in surprise auction after 50% revenue crash
Key Points
- Botswana is rapidly auctioning 1 million carats of diamonds ...
When your country's main export loses half its value in one year, you don't gradually pivot your strategy - you throw a surprise diamond auction faster than a panicked day trader liquidating positions.
Botswana just announced a closed-door tender for roughly 1 million carats of rough diamonds, and if that sounds desperate, well, that's because it kind of is. The nation that produces more diamonds than any other African country watched its Debswana revenues crater by nearly 50% in 2024, making this auction less "strategic repositioning" and more "please someone buy our shiny rocks."
**Diamond...
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