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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...

Today

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 leader wants new long-term diamond sales deal with De Beers – report

16 may 2018

Botswana’s new president, Mokgweetsi Masisi, wants a new long-term diamond sales deal with De Beers when the current 10-year deal expires in 2020, according to Bloomberg.
“We have had a wonderful relationship with De Beers and we expect that relationship to be even more cemented,” he was quoted as saying in an interview Monday.

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Image credit: De Beers Group


“There is a way of actually achieving a win-win for both, and that’s what we desire.”
Masisi said preparations for the talks with De Beers had reached an advanced stage, but could not provide details of his government’s proposals or whether it wanted to raise its stake in the diamond company.
He said the new deal may differ from the previous one as the circumstances and operating environment had changed.
“The whole value proposition of beneficiation of diamonds revolves around jobs, the diversification of the economy,” Masisi said.
“Why take them far away? So the very things that cause them to be processed elsewhere, we want to get to the underlying reasons for that, the attractions and bring them to Gaborone.”
Botswana was the world’s biggest diamond producer after Russia, and most of its gems are mined by Debswana, a 50-50 joint venture between the government and De Beers.
Debswana’s production increased by 11 percent to 22.7 million carats in 2017 from 20.5 million carats in 2016.
Botswana had a 15 percent stake in De Beers, while the rest belonged to Anglo American.

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

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