Lazare Kaplan presses ahead with US$333m facility

Friday, September 17, 2010
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Local diamond cutting and polishing company and DTCB sightholder, Lazare Kaplan Botswana (LKB), says it is in a healthy financial position and it is pressing ahead with the delayed US$333 million financing facility meant to benefit the 16 sightholder companies in Botswana.

This week, the international media was awash with reports that LKB's parent company, Lazare Kaplan International's future was uncertain following its latest filing to the USA's Securities and Exchange Commission (SEC) in which the company said that it was unsure whether it would be continuing to operate.

In an interview in Gaborone this week, managing director of LKB, Alfred Dube, quashed reports that his company is in financial distress, saying it was business as usual at LKB and all of its subsidiaries around the world.

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