Nevertheless, the head of service of De Beers Media Relations Lynette Gould (Lynette Gould) said in an exclusive interview to Rough & Polished, the demand for the rest of the range of diamond production in the fourth quarter of 2016 was still healthy.
She said that the sale also in line with seasonal expectations.
"In the medium and long term fundamentals of supply and demand in the diamond industry are positive and continue to point to future growth", - said Gould.
"Over the past two decades, India's diamond consumer market showed almost continuous growth, while the demand for diamond jewelry in rupees increased following the results of 19 of the last 20 years. In the last decade the market has almost tripled in volume and reached about 220 billion rupees. And the future is as promising ", - she said.
Gould said that India has a dynamic and growing consumer market, which is fueled by a booming economy, an expanding customer base and culture, where jewelry play an important role in social events and family traditions.
"In particular, the rapidly growing middle class in India and is expected to grow at a very rapid pace of purchasing power of households with the highest income," - added Gould.
"So, in the end, we believe that there are many untapped opportunities for the diamond industry in India, as elsewhere in the world" - she concluded.
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The Debswana noted that the priority at the mine Jwaneng (Jwaneng) will now have to be cost control, and preference for the development of the deposit will be given to those areas that are currently necessary for the stability of the company's business and operational readiness in the event that the diamond market again quicken.
Head of production at Jwaneng Moeteledi Okitlane (Moeteledi Okitlanye) said in a statement received by Rough & Polished on Diamond Conference in Botswana, the company suffered due to lack of cash and due to the weakening of the diamond market.
Of Debswana, the parent company of Jwaneng, a joint venture between De Beers and the Botswana government, has reduced the production of diamonds in the past year by 16% to 20.4 million carats in response to weak demand.
In the De Beers hinted that in 2016, new steps to further reduce production, which can be made to fall from 28 million to 26 million carats, while Debswana may reduce extraction volumes up to 20 million carats against the previous forecast 21 million carats.
"Thus, cost control ... will be crucial to mitigate the significant revenue deficit, the prospect of which hangs over our business", - said Okitlane.
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