04 Apr 2022

The expansion of Karowe Mine comes at a time when  the diamond market is showing  signs  of improvement, President  Dr Mokgweetsi Masisi said in Letlhakane yesterday.

“Despite the prevailing  global  challenges  presented  by  the COVID-19  pandemic  and  its  variants,  the  market for  rough diamonds  continued  to  strengthen  during  2021,  resulting  in the increase of prices throughout the year,” he said.

Speaking at the Karowe underground mine ground breaking ceremony, Dr Masisi said the market presented a great opportunity for the venture to start producing in a favourable environment.

He noted that commencement of the underground mine coincided with Botswana assuming the Kimberley  Process chairmanship.

“During its chairmanship, and notwithstanding  the  COVID -19 situation on the ground, Botswana will endeavour to, among other  things,  rekindle  the peer  review mechanism  which collapsed over the last two years due to the pandemic. 

  The peer-review mechanism  is crucial  and  forms  one  of  the  key cornerstones  in  monitoring  compliance  with the  Kimberley process certification scheme,” he said. 

 On other issues, the President said through the Minerals Policy, government sought to build on the success of the diamond mining sub-sector to transform the economy from heavy reliance on extraction and export to an industrialised one with more  local processing and value addition.

“One of the objectives of the Minerals Policy is to significantly increase the level of citizen participation as employees, investors, suppliers of goods and  services in the  minerals sector,” he said.

Government, Dr Masisi said,  would continue to facilitate foreign direct investment and local investors by creating a conducive environment for them to operate their businesses seamlessly.

He said government would continue to refine and accelerate implementation of strategies to further enhance skills development and value addition throughout the diamond value chain.

President Masisi stated that revenue generated largely by diamond mining continued to transform the lives of Batswana.

He said it was fitting that the benefits of mining should visibly accrue to Batswana  adding that it also demonstrated the country’s position as a leading  world producer of diamonds by value.

“As a nation, our name in the mining industry must be engraved in the hall of fame for our excellence in ensuring that our diamonds are for development. 

This is particularly true for the diamond mining industry that continues to set itself apart as a mark of excellence,” President Masisi said.

Mining activities, especially diamond-related ones, Dr Masisi said,  gave ascent  to  the vantage tower from which the nation envisioned and propelled itself towards its aspirations.BOPA