• P63m to quench Molepolole thirstJune 4, 2025
    P63 million budgeted for water infrastructure development Water Ministry PS upbeat on the project success BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Boko to chop ‘deadwood’ ‘Give us our land back’- Saleshando After decades of enduring dry… Read more: P63m to quench Molepolole thirst
  • Letshego deposits hit P2.1 billionJune 3, 2025
    2024 growth driven by Mozambique, Botswana, Namibia Interest Income grew to P3.9 billion, double digit growth Operating income up 26% to reach P2.88 billion   BAKANG TIRO RelatedPosts Letshego deposits hit P2.1 billion Boko to chop ‘deadwood’ ‘Raise capital… Read more: Letshego deposits hit P2.1 billion
  • Boko to chop ‘deadwood’June 3, 2025
    Singles out ailing BMC, BAMB, BR & Air Botswana Orders BMC, BAMB to pay farmers within five days MPs call for sacking of CEOs appointed by BDP govt BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Letshego deposits… Read more: Boko to chop ‘deadwood’
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, June 7, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Debswana, five decades later…

patriot by patriot
February 4, 2021
in Business
242
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Company toasts to 50 years of diamond mining

When the then Bechuanaland political leaders sought independence from the United Kingdom, they were generally dismissed as a bunch of clowns who were all too eager to completely destroy what remained of one of the poorest areas in the world.

RelatedPosts

Letshego deposits hit P2.1 billion

‘Raise capital through BSE’

Mining sector endures worst recession

No wonder Sir Ketumile Masire would later pen his autobiography alluding to the perception most carried about what would later be Botswana. His book ‘Memoirs of an African Democrat: Very Brave or Very Foolish’; succinctly points to the perception most had.

Theirs was simply a leap of faith with the divine intervention on the horizon. As history would reflect – their brave step paid off. In 1967 – a year after independence, mining company De Beers’ exploration in the eastern part of the country bore some fruits as Geologist Manfred Marx, fresh out of university discovered first diamondiferous Kimberlite known as B/K1 pipe 15 kilometres north of Letlhakane village.

It took a decade to open a diamond mine in the country as the first one was opened in 1971 in Orapa and this was due to the remoteness of the country as the main challenge. Three other operations followed namely Letlhakane in 1975, Jwaneng in 1982 and Damtshaa in 2003.

Botswana government instead of leaving the mining of the precious stones to De Beers formed a 50/50 joint venture giving birth to Debswana Mining Company 50 years ago. The discovery of diamonds gave a glittering hope to the country and the then administration leverage of the newly found wealth to develop the country, building schools, healthcare and infrastructure development.

According to Tsodilo Resources Limited between 1870 and 2012 the world has produced some 4,898 million carats, mostly from kimberlites and Botswana which has started diamond 100 years after the big hole provided 665 million carats of this global figure which represents 14% of all diamonds ever produced.

This is almost the same as what South Africa has produced since 1870.

On Saturday at the high-end Gaborone International Convention Centre (GICC) and with the heavy weights of diamond mining in the world, Botswana celebrated five decades of diamond mining under a partnership between De Beers and Botswana Government that has been operationalized through Debswana Diamond Company.   

Permanent Secretary to the President (PSP) Carter Morupisi hailed Debswana for standing the test of time in the past 50 years, saying the company managed to adapt to the new global markets while meeting the evolving aspirations of Batswana in claiming a greater share of the diamond value chain.

Debswana has been the engine of Botswana’s socio economic development with Morupisi acknowledging the efforts placed by the two parties – Botswana Government and De Beers – to deliver for shareholders.

In 2018 Debswana produced 24 million carats which is nearly a quarter of the world’s entire annual production.

Debswana Managing Director Albert Milton said his company is a cornerstone of the national economy as it contributed 80% to the Botswana’s export earnings, approximately 20 per cent to Gross Domestic Product (GDP) and close to 40 per cent of government revenues in 2018.

Milton said Debswana remains futuristic and ambitious in its approach as evidenced by their various initiatives which are intended to sustain the mining company.

One of their ambitious projects is the multibillion Pula Cut-9 project to extend the life of Jwaneng mine to 2035. He said the P24 billion investments is expected to yield 52 million carats and creating over 1000 jobs – the majority of which will be held by citizens – at its peak.

Milton said Debswana is committed to mining safely, optimally and responsibly as well as making a meaningful contribution to the development of communities around its mines as well as the nation at large. In 2013 after long negotiations, De Beers agreed to move its rough diamond trade from London to Gaborone making the city as one of the  world’s key diamond centres.

A key highlight of 2019 besides the 50 years anniversary celebrations is the re-negotiation of the diamond sales agreement between Botswana Government and De Beers.

Related

Tags: Debswanadiamondjwaneng mineMASIREORAPA

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

CAAB lifts the grounding of 28 Aircraft

Next Post

Autlwetse ditches BMD

Related Posts

Letshego deposits hit P2.1 billion
Business

Letshego deposits hit P2.1 billion

June 3, 2025
‘Raise capital through BSE’
Business

‘Raise capital through BSE’

June 2, 2025
Mining sector endures worst recession
Business

Mining sector endures worst recession

May 27, 2025
VP applauds the Northern Trade Fair
Business

VP applauds the Northern Trade Fair

May 26, 2025
ALC’s STRATEGIC investment
Business

ALC’s STRATEGIC investment

May 19, 2025
Stanbic boosts green economy
Business

Stanbic boosts green economy

May 12, 2025
Next Post
Autlwetse ditches BMD

Autlwetse ditches BMD

Please login to join discussion
  • P63m to quench Molepolole thirstJune 4, 2025
    P63 million budgeted for water infrastructure development Water Ministry PS upbeat on the project success BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Boko to chop ‘deadwood’ ‘Give us our land back’- Saleshando After decades of enduring dry… Read more: P63m to quench Molepolole thirst
  • Letshego deposits hit P2.1 billionJune 3, 2025
    2024 growth driven by Mozambique, Botswana, Namibia Interest Income grew to P3.9 billion, double digit growth Operating income up 26% to reach P2.88 billion   BAKANG TIRO RelatedPosts Letshego deposits hit P2.1 billion Boko to chop ‘deadwood’ ‘Raise capital… Read more: Letshego deposits hit P2.1 billion
  • Boko to chop ‘deadwood’June 3, 2025
    Singles out ailing BMC, BAMB, BR & Air Botswana Orders BMC, BAMB to pay farmers within five days MPs call for sacking of CEOs appointed by BDP govt BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Letshego deposits… Read more: Boko to chop ‘deadwood’
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?