24 Jun 2025

Debswana Diamond Company has spent P1.4 billion since December last year releasing 664 employees on voluntary separation.

Speaking during the Liberty Life Living Annuity Conference held in Tlokweng recently, the Debswana Group, Human Resources executive head, Ms Matlhogonolo Mponang said a further 96 employees were released in June at a cost of P200 million.

Ms Mponang however, said the Debswana board had made a decision that there would be no involuntary separation. The slump in the diamond market has resulted with the diamond mining company closing its operations in Letlhakane and Damtshaa mines as production has been reduced from 24 million carats.

“Right now we are not selling diamonds as a country,” said Ms Mponang.

Debswana employs 6 200 people and a further 6 200 through its business partners, bringing a total of 12 400 employees in the diamond industry. Due to reduction in production, a decision was made to part ways with employees through voluntary separation, Ms Mponang said.

The slump in the diamond market signified an end of an era, with independent economic consultant, Dr Keith Jeffries signaling that the end of economic hardships was not in sight. ENDS