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Debswana ahead on Jwaneng underground despite cash crunch

Friday, June 20, 2025 | 250 Views |

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.

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