The speed and severity of the collapse in diamond prices caught many by surprise.

At the height of talks for a new sales contract with De Beers in March, Botswana announced a deal to become a shareholder in HB Antwerp.

Major Western jewellers, from Tiffany's to Cartier and Van Cleef & Arpels have all been keen to distance themselves from Russia's lucrative diamond trade.

The agreement also allows for participation in Anglo American employee share ownership plans.

Star says this name is highly symbolic of the Fort à la Corne project area and the surrounding First Nations lands.

While Debswana sales have been affected by weak global consumer demand, the company has not cut back production.

But even before it is in force, producers say Western customers have been shunning gemstones from Russia.