The world’s richest diamond mine, Jwaneng is investing in a bid to double diamond output in 2016. Jwaneng is one of the mines owned by Debswana, a joint venture between the government of Botswana and De Beers.
Debswana’s General Manager, Albert Milton says the world famous Jwaneng mine produced about 11.3 million carats in 2014. “The number went down by 14 percent in 2015 to 9.8 percent due to market related conditions,” he says. “We invested about 24 billion pula ($2.2 billion) in 2010 and we are positive of the outlook.”
The company, according to Milton, aims to raise its production levels to 20 million carats in 2016. De Beers’s Senior Vice President, Nigel Simson, says the company was responsible for selling about 90 percent of its rough diamonds. Most of the rough diamonds were sold in India, he says.
“Ten percent of the diamonds are sold through auction. As our season progresses, we are expecting a slowdown partly due to the manufacturing cycle in India, The country will son be on summer holidays,” says Simson. [Forbes]BLOG COMMENTS POWERED BY DISQUS