News

Advanced Search

De Beers Extends Jwaneng Mine Life

Mar 18, 2019 10:31 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
 Debswana, De Beers’ joint venture with Botswana, has launched a new project set to extend the life of its Jwaneng mine until 2035.

The Cut-9 expansion, which will cost Debswana approximately $2 billion, is expected to produce an estimated 53 million carats of rough diamonds, the company said Monday.

“With global consumer demand for diamonds reaching record levels in 2018, the extension will enable us to continue to meet the needs of our consumers all over the world,” said Debswana chairman and De Beers CEO Bruce Cleaver.

The extension will create about 1,000 jobs, most of which will be given to citizens of Botswana, the company said. Majwe Mining, a joint venture between Bothakga Burrow Botswana and Thiess Botswana, will provide mining services for the project.

In 2010, Debswana began its Cut-8 project, which extended Jwaneng’s life until 2033.

Debswana is a 50-50 partnership between De Beers and the government of Botswana.

Image: Jwaneng mine. (Debswana)
Tags: Bothakga Burrow, Bruce Cleaver, Cut-8, Cut-9, De Beers, Debswana, Debswana Diamond Company, Jwaneng, Jwaneng mine, Majwe Mining, Rapaport News, Thiess Botswana
Similar Articles
Renard mine 150 061119Struggling Stornoway Seeks Buyer for Renard
Jun 11, 2019
Stornoway Diamond Corporation is looking for investors to help salvage its Renard mine as the company continues
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.