Africa-Press – Botswana. Global diamond giant De Beers says it will invest $1 billion to extend the life of its flagship Jwaneng mine in Botswana, despite falling demand for the gemstone last year. , media reported.
The South African conglomerate and the government of Botswana, which jointly own the Debswana Diamond Company, have approved the expenditure which will transform the Jwaneng mine into an underground operation, specifies the Zonebourse website.
Debswana had declared in 2018 that it planned an investment to extend the life of the mine by 11 years from 2024., recalls the same media.
Demand for rough diamonds has been weak in recent months, with India – which cuts and polishes 90% of the world’s rough diamonds – asking miners around the world to stop selling the gemstones to it in order to manage built-up stocks, underlines Zonebourse again.
Only part of the dispatches, which the Anadolu Agency broadcasts to its subscribers via the Internal Broadcasting System (HAS), is broadcast on the AA website, in summary form. Please contact us to subscribe.
For More News And Analysis About Botswana Follow Africa-Press
