Botswana to transform into global diamond centre

FREDERICK KEBADIRETSE
Staff Writer | Monday October 11, 2010 00:00

 

Kedikilwe said this at a groundbreaking event of a new diamond cutting and polishing factory owned by Laurelton Diamonds Botswana (LDB) at the diamond technology park last week. He said all 16 licensed cutting and polishing factories are in operation, and significant downstream activities such as jewellry manufacturing and ancillary services are in the pipeline.

He said pursuant to the objective of establishing a Botswana Diamond Centre, he undertook a trip to Belgium and Switzerland in August where he explored collaborations between Botswana and Antwerp World Centre and further held discussions with LCF Rothschild Group, a leading bank in private banking, asset management and advisory business services. Kedikilwe also commended the diamond industry in Botswana for soldiering on through difficult times of the economic recession where the diamond production in the country was reduced by almost half from 32.6 million carats in 2008 to 17.7 million carats in 2009.

He, however, said there is now some significant market recovery visible in the industry, a thing that should motivate the players in the industry, including cutters and polishers.

He said the groundbreaking rite was yet another milestone in Botswana's diamond cutting and polishing industry as such developments bring hope to the people and government of Botswana. 'The private sector is above all a partner in social development, without the support of the private sector, government cannot realise its development goals,' said Kedikilwe.

For his part, Laurelton Diamonds President Andrew Hart told the gathering that they had invested 36.5 million pula for the construction of the new 3000 square metro factory which he said will be fitted with state of the art cutting and polishing equipment.

Hart said the 240 locals will be employed during the construction and once complete, the factory will be able to accommodate 300 employees. Wharic Construction is the main constructor of the factory and the project is expected to be complete in June next year. Laurelton Diamonds Botswana (LDB) is a subsidiary of the world's oldest and most renowned jeweller Tiffany's and Co.

The company was established in Botswana in 2007 to participate in the diamond beneficiation programme launched by MMEWR to expand the economic impact of diamonds locally. LDB currently employs a staff of 110 people, including master polishers who provide training to ensure local skill development.