The Debswana Diamond Company (Debswana), a 50/50 joint venture between the Government of the Republic of Botswana and De Beers Group, has today announced the commencement of the 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 will invest approximately US$2 billion over the life of the project underpinning 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 is expected to create more than 1,000 jobs, the majority of which will be held by Batswana citizens. 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 US$1.2 billion (AUD$1.7 billion, the equivalent of approximately 15.7 billion Pula).
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 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.
- Additional local business development initiatives.
Debswana was formed in 1969, and is a 50/50 partnership between the Government of the Republic of Botswana and De Beers Group. Debswana is a significant contributor to Botswana’s economy with more than 80 per cent of its profits being returned to the people of Botswana. The Jwaneng Mine contributes approximately 70 per cent of Debswana’s total revenue. Diamonds from Debswana, in turn contribute approximately 50 per cent of public revenue, 33 per cent of GDP, and over 80 per cent of foreign earnings to Botswana.
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For more information, please contact:
Agatha Sejoe
Corporate Affairs Manager – External Communication
Debswana Diamond Company
Tel: +267 3614301/71301453
About Debswana
Debswana Diamond Company was established in 1969, and it is owned in equal shares by the Government of the Republic of Botswana and De Beers Group. It is one of the world’s leading diamond producers by value and volume. Debswana operates four diamond mines in Orapa, Letlhakane, Damtshaa and Jwaneng. Debswana is a major contributor to the national economy of Botswana – contributing significantly to the gross domestic product, foreign exchange earnings and government revenue. It is one of the largest private sector employers, with over 5200 employees. Debswana is also the biggest contributor to the De Beers Group rough diamond production. The company is committed to mining safely, optimally and responsibly, as well as making a meaningful contribution to the development of communities around its mines and the nation at large, thus leaving a lasting legacy. For further information, visit www.debswana.com.
About De Beers Group
De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit www.debeersgroup.com.
Notes to Editors
- Jwaneng Mine is the one of the world’s richest diamond mines by value.
- The word Jwaneng in Setswana means ‘a place of small stones’.
- Jwaneng Mine is an open-pit mine, situated in south central Botswana, about 160 miles west of Gaborone.
- The mine’s high-grade ore contributes up to 70% of Debswana’s revenue.