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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Botswana dismisses WB calls to open up on mega diamond mining deals

19 may 2017
Botswana has defended its silence on “mega” diamond mining deals saying that “no country signs transparent agreements”.
Reuters recently quoted World Bank Group consultant Nils Handler as saying that government’s decision to keep the negotiation process around contracts for diamond mining and large integrated projects confidential was a cause for concern.
He said a more open process, including published contracts, would assist Botswana in becoming a more transparent and accountable jurisdiction.
However, Botswana’s minerals and water affairs minister Sadique Kebonang dismissed World Bank’s concerns saying that commercial agreements were confidential by nature because of the sensitive of information they carry.
“We have various representatives from the Ministry, parastatal and private sectors Government and private attorneys and mining experts who are part of government’s negotiating team,” he was quoted as saying by Mmegi newspaper.
“The participation of such parties in the negotiation process renders the negotiation process transparent.”
He also said, “even the World Bank, when they give us loans some details of the loan agreement are kept secret”.
Kebonang said details of the mega mining deals would be made public once agreements had been sealed.
Botswana, according to Reuters, earns 89 percent of its foreign exchange income and 30 percent of national revenues from mining, mainly diamonds.
It had numerous large-scale mining, sales and marketing contracts with De Beers, a unit of Anglo American.
De Beers and Botswana jointly own Debswana and DTC Botswana.
Botswana also owns a 15 percent stake in De Beers.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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