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Yesterday

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Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

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13 july 2020

‘Botswana cannot produce, sale synthetic diamonds’

23 july 2020
Botswana cannot engage in production and sale of synthetic diamonds as this will have an impact on the value of its natural diamonds, a government official has said.
“Let’s not compromise our diamonds. If we start production of synthetic diamonds or any association with them we will be compromising the value of our diamonds,” ministry of minerals permanent secretary Mmetla Masire was quoted as saying by the local media to the Parliamentary Accounts Committee.
He said Botswana will send confusing message to its customers should it decide to produce and sale synthetic diamonds.
Meanwhile, Masire said that although the United States buys half of diamonds produced by Debswana, the company was currently searching for other markets such as China.
He also refused to provide an update on the ongoing negotiations between Gaborone and De Beers as disclosure of any information pertaining to the negotiations will potentially influence the outcome.
“It is not like we are trying to hide anything, we can share some information with Batswana, but the main thing is that the document has got some clauses that may expose us, remember we are in competition with others,” said Masire.
He professed ignorance on claims that government intends to acquire more stake in De Beers and the group was offering shares for acquisition.
Botswana has a 15% stake in De Beers, while the remaining 85% shareholding is owned by Anglo American. 

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