Post a comment 
Sierra Leone’s once-thriving diamond sector is in sharp decline, with exports and government revenues falling to historic lows, raising concerns about the future of one of the country’s most iconic industries.
Recent figures show diamond production and exports have contracted sharply, reversing gains from previous years. Analysts attribute the slump to reduced global demand, falling international prices, rising operational costs, weak investment, and persistent challenges such as smuggling and regulatory inefficiencies.
Diamonds have long supported export earnings, employment, and community livelihoods, particularly in mining districts like Kono, Kenema, and Bo. But the downturn has reduced export volumes and foreign exchange inflows, straining national revenues amid broader economic pressures.
Industry sources say several licensed operators have scaled down or suspended operations due to high costs and limited financing. Artisanal miners, who constitute a large portion of the workforce, are also struggling as low prices and limited market access cut incomes and worsen living conditions.
Government officials acknowledge the sector’s challenges and say reforms are underway to restore confidence, improve transparency, and curb smuggling. Initiatives include strengthening oversight, promoting value addition, and improving data collection for accurate production and export reporting.
Economists warn that without urgent reforms and renewed investment, the prolonged slump could have lasting effects on rural employment, local economies, and public finances. Diversification, stronger governance, and formalization of the sector are critical to stabilizing the industry.
As Sierra Leone seeks to attract sustainable investment, the decline in diamond exports highlights vulnerabilities in the extractive sector and the need for decisive action to safeguard its future.
