Botswana gems seized in Belgium deal gone sour
Friday, January 12, 2018
Lerala Mine, in the Tswapong area, closed at the end of May after its Australian owner, Kimberly Diamonds ran out of operational cash citing weak sales. At least 130 workers lost their jobs, with a few others retained for care and maintenance activities.
According to documents seen by Mmegi, the sale of the 53,000 carats was initiated on May 28, 2017 through a company in which Kimberly’s majority shareholder holds a major stake. The company was to auction the stones in Antwerp, having acquired them from Kimberly at US$22 per carat, an amount creditors believe was purposefully below value as a prior sale at Lerala had fetched prices of US$45 per carat.
The fees have been doubled from the previous amounts and raise concerns about political participation accessibility and democratic representation principles.This significant fee increase prompts questions regarding its impact on grassroots democracy.On one hand, the fees act as a filter, ensuring only serious contenders enter the race, potentially reducing frivolous candidacies and generating crucial campaign funds. The BDP argues that aspiring...