|
|
Botswana Aims to Drastically Grow Diamond Cutting Industry by 2012
Jan 17, 2007 10:21 AM
By Jeanette Goldman
|
|
|
RAPAPORT... Botswana’s President Festus Mogae anticipates a 17-fold increase in its diamond cutting industry within five years time, reported iafrica.com. Speaking at an international industry dinner in Antwerp on January 16, Mogae told delegates he believes Botswana can and will graduate from a diamond producing country to a world class diamond center.
He also announced that local cutters would be directly supplied with goods from local producers, as well as, the De Beers’ Diamond Trading Company (DTC,) which has been the exclusive marketing channel for Botswana’s diamond production.
"The cutting and polishing industry in Botswana has been very small, cutting diamonds worth about $30-million per annum. It is our wish the 16 companies now licensed to operate in Botswana should in five years' time be cutting and polishing at least half a billion dollars worth of diamonds per annum," he said.
Botswana has been developing its diamond industry, not only to polish and cut diamonds across the market, but also to provide all other financial and technical support services.
"This will attract related services to Botswana, such as diamond banking, security, insurance, technology, and engineering as well as grading or diamond laboratories," Mogae added.
The DTC's Botswana operation (DTCB,) a joint partnership between De Beers and the Botswana government, is expected to become operational in 2008.
|
|
|
|
|
|
|
|
|
|
Tags:
De Beers, DTC, Government, Laboratories, Polishing, Production
|
|
|
|
|
|
|
|
|
|
|
|
|