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Botswana diamond giant still in doldrums despite global price stability – Official

Debswana Diamond Company managing director Balisi Bonyongo on Wednesday said while the global diamond market has stabilised, the company is not yet out of woods.Briefing journalists in the capital Gaborone, Bonyongo said the company has been able to sell what the diamond mines are producing and what has been stock piled in previous years.

The diamond industry has been going through a rough patch following the recent recession although Bonyongo said the economic outlook was promising.

He said decision to re-open one of Debswana’s Damtshaa Mine is yet to be made.

Damtshaa Mine was shut down as a result of a slowdown in the global diamond industry and was to go through a maintenance programme for up to three years from 2016 to 2018.

Meanwhile, Bonyongo said 250 employees affected by the shutdown of Damtshaa Mine have been retained and that they would go back to work once the global diamond market normalises.

Published on 28.04.2020

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