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Botswana
Dazzle of world's third largest diamond masks industry doldrums

Botswana President Mokgweetsi Masisi, with the newly discovered 1000-carat diamond. © Tshekiso Tebalo/Xinhua News Agency/Newscom/MaxPPP

Weighing in at a jaw-dropping 1,098 carats, the gemstone discovered by Debswana, a partnership between De Beers and Gaborone, made headlines the world over. But behind all the distracting sparkle, the business of diamonds is losing its shine. [...]

Published on 22/06/2021 at 05:40 GMT Reading time 2 minutes

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Mining

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Bruce Cleaver
De Beers
Debswana
Graff
Lucara Diamond
Lynette Armstrong
Mokgweetsi Masisi
Neo Jane Masisi
Okavango Diamond Co
Sotheby

Botswana
Diamond trader HB Antwerp positions itself in Gaborone as alternative to De Beers

HB Antwerp is in talks with the state-owned Okavango Diamond Co over a diamond trade partnership, which the Belgian trader is hoping to show would be more profitable for the Botswana government than its arrangement with sector giant De Beers.

Subscribers only Mining, Commodity traders 22.03.2023

Botswana
De Beers and Gaborone struggle to reach new diamond deal

Talks on Botswana's new deal with the global diamond giant have taken a tense turn after a leaked report accused De Beers of tax evasion. The two sides have until 30 June to hammer out an agreement to continue their long-standing partnership.

Subscribers only Mining 22.02.2023

Botswana Minister of Mines Lefoko Moagi.

Botswana
De Beers-Gaborone deal still stuck on state's share

On 29 June, the diamond giant De Beers and the Botswana government decided to add a third one-year extension to their contract for the sale of diamonds produced by their joint venture Debswana.

Subscribers only Mining 11.07.2022

Botswana
Debswana hopes new, outsider MD will bring the shine back to its diamond business

Faced with court cases and internal corruption investigations, Debswana, the joint venture between the Botswana government and diamond colossus De Beers, has appointed a newcomer to be MD in Andrew Motsomi.

Subscribers only Mining 08.06.2022

Botswana
Masisi uses Lucara to pressure De Beers for better revenue-sharing deal

President Masisi wants to make De Beers share proceeds from polished stones from the Debswana mines that Botswana runs jointly with the firm. He hopes their new arrangement will be similar to miner Lucara's deal with diamond dealer HB Antwerp.

Subscribers only Mining 07.04.2022

Botswana
Gaborone seeks backing in Brussels to host Kimberley Process HQ

In keeping with his election promises to promote the presence of Botswana within key international institutions, President Mokgweetsi Masisi is on an EU lobbying drive. He is hoping to secure the backing of Brussels for his country to be chosen as the location for the new permanent secretariat of the Kimberley Process.

Subscribers only Mining 25.11.2021

On a trip to Brussels from 13 to 16 November 2021, Botswanan president Mokgweetsi Masisi (left) met with the European Union's diplomatic chief, Josep Borrell.

Botswana
Botswana tycoon Atang Makgekgenene takes a shine to BK11 diamonds

Mining magnate Atang Makgekgenene has entered the diamond business in his native country with a bang by buying rights to the BK11 mine and licences for other mines nearby at a reduced rate.

Subscribers only Mining 02.11.2021

Botswana
The Dimbungus keep growing their mining interests

Husband and wife Len Dimbungu and Mpho Dimbungu, diamond industry veterans and highly successful entrepreneurs in Gaborone, have just founded a new mining company.

Subscribers only Mining 10.09.2021

Lesotho
Maseru takes a hard line with diamond producers

Following the recent inauguration of the first diamond mine owned by a Mosotho, the government is looking for an independent diamond valuer to reduce reliance on selling prices decided by the mining companies. It is also considering raising the bar regarding the minimum local shareholding in foreign mining ventures.

Subscribers only Mining 09.09.2021

Inner circles | Botswana
Race for top job at De Beers diamond offshoot Debswana heats up

The De Beers-Botswana state JV, which represents a third of the country's GDP, is looking for a new boss and with the company in the process of renegotiating its diamond sales contract, the choice of CEO is tangled with political considerations.

Subscribers only Mining 03.09.2021

The Jwaneng diamond mine,operated by Debswana, a joint venture between De Beers and the Botswana government.

Botswana
Gaborone reaps bigger share of Debswana's diamonds

Although talks are still in progress between Botswana and diamond producer De Beers on the terms of their partnership agreement, the share of Debswana's diamonds allocated for sale by the state-owned Okavango Diamond Co has been quietly but substantially increased.

Subscribers only Mining 24.08.2021

Botswana
Jacob Thamage back at helm of Botswana's Diamond Hub

After serving as coordinator in 2012 at the pivotal moment when De Beers moved its sales offices from London to Gaborone, Jacob Thamage is returning to the position. A safe bet for Botswana during these unstable times in the industry.

Subscribers only Mining 26.07.2021

Botswana
Gaborone seeks to sparkle in diamond processing

The business of cutting and polishing diamonds is fiercely competitive. To gain a foothold, Botswana is beefing up the capacity of the parastatal Okavango Diamond Co, which wants to soon sell 'Made in Botswana' gems.

Subscribers only Mining 12.07.2021

Botswana
Debswana said to be seeking buyer for its Damtshaa mine

With the diamond sector battered by the coronavirus pandemic, Botswana giant Debswana is reportedly considering selling its Damtshaa mine, the smallest of its four operating sites.

Subscribers only Mining 07.07.2021

Botswana, China
Gaborone hopes to seduce Chinese investors with coal

Botswana's mining authorities, seeking to take advantage of Beijing's embargo on Australian coal and the overheat in South African production, have launched a charm offensive to get Chinese investors to buy their black stuff.

Subscribers only Mining 05.07.2021

Botswana
Mokgweetsi Masisi and American TV game show host Steve Harvey's blossoming friendship

Without calling for tender, Botswana's president just awarded Steve Harvey's production company a TV production contract, drawing attention to their friendship. Harvey has been active in Africa since 2019.

Subscribers only Business 28.06.2021

Botswana president Mokgweetsi Masisi with US TV game show host Steve Harvey in 2019.

Botswana
Three Botswanan expats launch Ozi-Afric from Perth

Based in Western Australia, Botswanan mining sector veterans have set up three investment funds in their native country to operate as a bridge between the Perth and Gaborone mining communities.

Subscribers only Mining 24.06.2021

Angola
Big-carat diamonds save the day for Lucapa

Although 2020 was a rough year for the diamond sector as a whole on account of the pandemic, certain producers fared better than others by focusing their efforts on smaller deposits that nevertheless contained larger diamonds.

Subscribers only Mining 09.04.2021

Botswana
De Beers hopes to sparkle in the fight against Covid-19

De Beers is killing two birds with one stone by gifting diamonds to Botswanan healthcare workers: the giveaway boosts the company's image in Botswana, its biggest sources of gems, and should help put it in President Masisi's good books, as negotiations on renewing its diamond sales contract have been ensuing for over a year.

Subscribers only Mining 19.01.2021

The Bagaka Ba Rona program launched by De Beers and the Government of Botswana.

Botswana
Masisi and De Beers woo diamond dealers with safaris

President Mokgweetsi Masisi and De Beers CEO Bruce Cleaver on 2 December opened Diamond Impact week with a message to international dealers: "Come to Botswana, we have safaris!"

Subscribers only Mining, Politics 08.12.2020

Inner circles | Botswana
Lynette Armstrong's levers of influence to consolidate Debswana's diamond business

Having suddenly found herself at the helm of Debswana in 2019 following the premature death of her predecessor, Lynette Armstrong has been running Botswana's leading diamond producer in an acting capacity. With the appointment of a permanent managing director pending, she has been activating her networks as well as renegotiating the contract to sell the company's diamonds with its two shareholders, the Botswanan state and De Beers.

Subscribers only Mining 14.05.2020

Lynette Armstrong has been running Botswana's leading diamond producer in an acting capacity.

Set up email notifications for these topics

Bruce Cleaver
De Beers
Debswana
Graff
Lucara Diamond
Lynette Armstrong
Mokgweetsi Masisi
Neo Jane Masisi
Okavango Diamond Co
Sotheby

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