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Diamond industry continues to grow

14 Nov 2023

The global trade in the natural diamond has continued to grow owing to major technological advances that have improved productivity exponentially and supported value chain development despite various challenges.

This was said by Minister of Minerals and Energy, Mr Lefoko Moagi, during the Natural Diamond summit dinner hosted by De Beers at the Airport Special Economic Zone area in Gaborone on Monday. Mr Moagi said Botswana had over the years worked on improving its own participation across the diamond industry value chain and as a natural diamond producer, continued to look to avenues to expand downstream activities.

“It is heartening to see the tangible benefits accruing to the country’s citizens and communities from the country’s increased participation in the diamond industry,” Mr Moagi said.

The De Beers Group Chief Executive Officer, Mr Al Cook, said the decision to relocate the diamond sorting operations from London to Gaborone in 2013 had seen Botswana’s participation in the diamond trade grow exponentially, with global sight holders regularly visiting the country and more jobs created. Mr Cook commended Botswana for using the diamond revenue for prudent investment in education, healthcare and other social goods as well as in physical infrastructure and human capacity building. He added that 10 years on, after the landmark agreement between government and De Beers in June this year, Botswana would participate more in the diamond value chain.

“This would include diamond grading and jewelry manufacturing capacity being developed in Gaborone,” he said. “We believed in 10 years’ time, the year 2023 will be looked back at as the moment the meaning of the famous saying ‘a diamond is forever’ was realised, as the long term benefit for country would be attained.”  ENDS


Source : BOPA

Author : Pako Lebanna

Location : GABORONE


Date : 14 Nov 2023