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By Press Release
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Posted: 06/24/09 02:45
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RAPAPORT...
Press Release - Gaborone, Botswana: Today marks the 40th anniversary of the unique partnership between De Beers and Botswana, which began with the signing of the lease agreement for the Orapa Mine on 23rd June 1969 and the establishment of De Beers Botswana Mining Company Limited — renamed Debswana in 1992. In the ensuing 40 years, Botswana and De Beers have built and nurtured one of the most successful and enduring public-private partnerships in the world.
At independence in 1966, Botswana was one of Africa’s poorest countries, but since the inception of the Botswana/De Beers partnership, it has emerged onto the world stage as a middle-income country. From economic growth to infrastructure and education to healthcare, Debswana has been a major driver in realising this extraordinary achievement.
In 1966, Botswana had only three secondary schools, 22 university graduates, few assets and just 3 kilometers (1.9 miles) of tarred road. However, as a result of the visionary leadership of His Excellency Sir Seretse Khama, Botswana has, during the past four decades, had one of the highest economic growth rates in the world. Today, Botswana has a nationwide digital telephone network, with approximately 5,000 kilometers (3,107 miles) of fiber-optic cable. There are more than 300 secondary schools in Botswana, and the revenue from diamonds enables every child in Botswana to receive free schooling until the age of 13. Beyond primary school, education is 95 percent funded by the government.
Debswana has driven job growth in Botswana, with 25 percent of employment in the country directly or indirectly linked to diamonds. Debswana employs around 6,000 people and is the largest single employer in Botswana after the government. With approximately $3.2 billion worth produced each year, diamonds account for 76 perent of Botswana’s export revenue, 45 percent of government revenue and 33 percent of gross domestic product (GDP).
In addition, as a member of the communities in which it operates, Debswana realized the tragic and debilitating potential of HIV-AIDS. It was the first mining company in the world to offer free antiretroviral treatment to employees, their spouses and their children, as part of a comprehensive disease management program, which existed outside of a medical insurance scheme. As former President Festus Mogae said in June 2006, “For our people, every diamond purchase represents food on the table, better living conditions, better healthcare, safe drinking water, more roads to connect our remote communities and much more.”
Business thrives in an environment of political stability, transparency and predictability. Although, like many other businesses in the country, Debswana’s success comes as a result of this benign environment, it has also flourished in an environment of partnership that is based on mutual trust, respect and a shared belief that what benefits business can, and should, also benefit society.
Nicky Oppenheimer, chairman of De Beers, remarked recently that “Debswana has a bright future. It is built on the shared commitment to turn Botswana’s national resources into national assets, the unflinching dedication of its Batswana employees, and its resilience in the face of even the strongest of storms. It is the bedrock of a wonderful bond which De Beers has with the people of Botswana. Long may it continue!”
About De Beers:
De Beers, established in 1888, is the world’s leading rough diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. De Beers, and its joint venture partners, operate in more than 20 countries across five continents employing around 17,000 people. From its mining operations across Botswana, Namibia, South Africa and Canada, De Beers produces and markets approximately 40 percent of the world’s supply of rough diamonds. As part of the company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work. In the countries in which we have mining operations, this means carrying out profitable business, whilst at the same time helping Governments achieve their aspirations of turning natural resources into shared national wealth. De Beers encourages sustainable working to ensure long-term positive development for Africa, and returns approximately US$4.7 billion to the continent every year. For further information about De Beers visit www.debeersgroup.com
Rapaport News is not responsible for and does not endorse the content of any Press Release. Press Releases are not written by us and are provided as a service to our clients.
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