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P15.7 billion Cut-9 project starts at Jwaneng Mine

patriot by patriot
January 25, 2021
in Business
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P15.7 billion Cut-9 project starts at Jwaneng Mine
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Debswana Diamond Company (Debswana), a 50/50 joint venture between the Government of the Republic of Botswana and De Beers Group, has announced the commencement of Cut 9 project to extend the life of Jwaneng Mine, one of the world’s most valuable diamond mines. The project will extend the life of Jwaneng Mine to 2035, and is expected to yield an estimated 53 million carats of rough diamonds from 44 million tonnes of treated material.

Debswana’s investment over the life of the project underpins the partnership’s commitment to the future of Botswana’s diamond industry. The shareholders of Debswana have approved the budget for 2019 so that the next phase of work can commence.

At its peak Cut 9 project is expected to create more than 1,000 jobs, the majority of which will be held by Batswana. A local contract has also been awarded by Debswana to Majwe Mining, a joint venture between Bothakga Burrow Botswana and Thiess Botswana, to provide diamond mining services. The value of the contract is P15.7 billion.

Bruce Cleaver, Chairman of Debswana, said: “The extension of Jwaneng Mine secures Botswana’s rightful place as a leading diamond producing nation for years to come. With global consumer demand for diamonds reaching record levels in 2018, the extension will enable us to continue to meet the needs of our consumers all over the world. We are deeply proud of the central role Jwaneng Mine has played in Botswana’s remarkable development story and of the role this investment will play in its future.”

Debswana Managing Director, Albert Milton, said: “As we have throughout the history of Jwaneng Mine we remain steadfast in ensuring that all projects are delivered safely and to the benefit of the people of Botswana. We are also committed to delivering on the citizen economic empowerment (CEEP) goals and will focus on training our people, developing their skills and harnessing technology to create further safety and efficiency improvements.”

The high-level Social Investment CEEP key performance indicators for the Cut-9 project include, but are not limited to: The establishment of an Apprentice and Artisan Training Centre; A Component Rebuild Centre, which is expected to mature into a self-sustaining business within three years from the launch of the project; and Additional local business development initiatives.

Debswana is a significant contributor to Botswana’s economy. Jwaneng Mine contributes approximately 70% of Debswana’s total revenue. Diamond revenues from Debswana, in turn contribute significantly towards Government revenues, GDP and foreign earnings to Botswana.

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  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
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