28 Mar 2018

Debswana Mining Company has increased performance in the past year positioning itself well for the future.  

Speaking at the Business Performance update to stakeholders in Gaborone on March 27, Debswana managing director Mr Balisi Bonyongo stated that Debswana had a high performance practice that positioned the company as a benchmark for international standards.

Mr Bonyongo in his presentation told the shareholders that Debswana was inspired by its purpose, guided by its vision and acted in line with its values.

He said one of the main values of the company was putting safety first as the company experienced a decrease in Total Recordable Injury Frequency from 1.2 in 2011 to 0.2 in 2017.

“The mining company has registered increased percentages in consumer demand, carat production and sales in 2017.

In the United States early signs indicate positive consumer growth in 2017 while rough diamond demand midstream sentiment is positive; following a good holiday selling season, consumer market and a favorable underlying macro-economic environment,” he said.

Mr Bonyongo further brought to the attention of the stakeholders that in the Asian markets there had been marginal growth in 2017 in China while demand softened in the Indian markets in 2017 due to monetary and fiscal reforms.

“Improving global macro-economic conditions remain supportive of continued consumer demand growth for diamonds in 2018 and the growth will be dependent on macro-economic conditions in key consumer markets,” he said.

He said Debswana carat production increased by 11 per cent with Orapa up by 28 per cent, Letlhakane two per cent and Jwaneng slightly below one per cent.

He said Debswana’s earnings before interest, taxes, depreciation, and amortization (EBITDA) were also up by 20 per cent due to higher revenues from stronger rough diamond demand, improvement in cost and operational efficiencies and favorable exchange rates.

“Debswana as a mining company also lives up to the great qualities of diamonds themselves with a great humanitarian appeal and positive and impactful presence in the mining communities and the country as a whole,” he said.

Mr Bonyongo said the company was committed to ensuring that it reached its gender diversity and inclusion goals with women in management currently at 24 per cent; by 2018 target stands at 26 per cent and to stretch to 30 per cent while Debswana scholarships for females to increase from 28 per cent to 40 per cent.

He said the company continued to make great sustainable investments in various communities such as funding the Tsodilo Community Trust by P16 million and a construction of five classrooms in Seasole Primary School worth in the region of P3.7 million, among others. The number of people who have made use of mine hospitals grew from 84 000 in 2016 to 87 521 in 2017.

“Debswana is also actively engaged in protecting the environment with P14.2 Million spent on a wildlife park and building of the Diamond Museum in Orapa which was recently opened. The museum and parks can be seen as a great corridor to the Makgadikgadi and Kasane,” he said. Ends