Debswana to invest $1 billion in the development of its Jwaneng diamond mine. The state-owned diamond company in Botswana announced today.
The development is anticipated to effect 50% production rate and create about 2,000 more jobs.
The Jwaneng diamond mine is located at the south-central region of the country, around 100 kilometres from the Captial, Gaborone.
The diamond mine has been in operation since 1971 and has produced more than 100 million carats of diamonds. It is the largest diamond mine in Botswana and one of the world’s largest diamond mine.
Botswana’s expansion of the Jwaneng diamond mine shows its commitment to the diamond industry.
The industry is a major contributor to the country’s economy and makes Botswana the world’s second-largest producer of diamonds by value.
The expansion is anticipated to increase employment and bolster Botswana’s economy. The mine will also contributes significantly to the government’s tax revenue.
Meanwhile, Over 10,000 people are employed by the mine, and the expansion is anticipated to add 2,000 more employees.
For Botswana, the investment in the Jwaneng diamond mine is a good step forward. Production is anticipated to rise, jobs to be created, and to boost economy.
The investment demonstrates Botswana’s dedication to the diamond sector, which significantly boosts the economy of the nation.
According to Debswana CEO, Lynette Armstrong, the investment was a major vote of confidence in Botswana’s diamond industry.
However, the development will ensure that Jwaneng remains a world-class diamond mine for many years to come, she added.
The Jwaneng diamond mine’s expansion is anticipated to be finished in 2025.
