Africa-Press – Botswana. Okavango Diamond Company (ODC) will receive an increased allocation of 30 per cent of Debswana rough diamonds as part of a new 10-year diamond sales agreement between Botswana and DeBeers.
Minister of Minerals and Energy, Mr Lefoko Moagi said this when welcoming President Alar Karis of Estonia who was on a tour of ODC on Wednesday.
ODC is responsible for the sale and marketing of diamonds, was assigned 25 per cent of Debswana diamonds. This percentage is expected to rise with the signing of the new deal.
Mr Moagi expressed his approval of the expansion of ODC’s operations and its role in handling a larger diamond volume.
The focus is on encouraging local citizen involvement in the industry and meeting customer demands.
Meanwhile, ODC’s Managing Director, Mr Mmetla Masire, expressed gratitude to President Karis for the visit and recognition of the company’s efforts.
He highlighted ODC’s evolution into one of the top four diamond supply companies globally since its establishment.
Although ODC is officially registered as a private entity, Mr Masire said that ODC focus was to strengthen Botswana’s position as a major player in the rough diamonds market.
The company aims to elevate Botswana as a key destination for the rough diamonds industry.
Established in 2012, ODC plays a pivotal role in the Botswana diamond sector, providing the government direct access to market a portion of the country’s diamonds.
Masire underlined ODC’s role in offering market insights and trends to facilitate strategic decision-making and bolster Botswana’s status as a leading rough diamond source.
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