Mmegi

Anglo weighs more De Beers’ production cuts

Tough times: Debswana is waiting for a recovery from the prolonged slump
Tough times: Debswana is waiting for a recovery from the prolonged slump

De Beers could ask Debswana to restrain its output again – which would be the third time this year – as diamonds continue in a slump, threatening economic activity in the country.

Duncan Wanblad, the CEO of Anglo American which holds 85% equity in De Beers, said assessment of the situation was continuing to guide any further production decisions.

“As previously announced, we reduced rough diamond production from De Beers in response to market conditions,” the CEO said in a third-quarter update released recently.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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