De Beers bullish on new diamond deposits

Speaking to BusinessWeek in a telephone interview, Oppenheimer, who is also the Debswana chair, said De Beers' presence was no longer only in mining but had moved to downstream activities, a development which showed the company's intentions to develop the industry in Botswana.

"We have invested a substantial amount of money in trying to extend the lifespan of mines in Botswana, particularly with the Cut 8 project at Jwaneng where we will extract 100 million carats until about 2025," he said.