Mmegi

Debswana ahead on Jwaneng underground despite cash crunch

Pushing ahead: The transformation of the Jwaneng Mine pit into an underground operation is ongoing PIC: MORERI SEJAKGOMO
Pushing ahead: The transformation of the Jwaneng Mine pit into an underground operation is ongoing PIC: MORERI SEJAKGOMO

Debswana is 14% ahead of target in developing the mammoth $6 billion underground expansion of Jwaneng Mine, and is considering debt funding for the project due to the downturn in diamond demand.

When complete, the Jwaneng Underground Project, popularly known as the JUP, will create the world’s largest underground diamond operation, involving 360 kilometres of tunnels.

Starting in 2034 and going up to at least 2054, the project will bring up nine million carats to the surface annually, anchoring Debswana and the government’s revenues at a critical time when the country’s diamond resources are tapering out.

Editor's Comment
Warm relations must not come at the expense of fair trade

“I believe that free but fair trade isan absolute imperative”– John E. JamesFor two countries bound by geography, history and deep economic ties, periods of diplomatic strain serve neither side well. President Duma Boko’s efforts to restore momentum to relations with Pretoria deserve recognition, particularly at a time when Southern Africa faces shared challenges ranging from sluggish economic growth and unemployment to energy security...

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