Debswana cuts output target, suspends Damtshaa

Debswana head of corporate affairs, Esther Kanaimba-Senai
Debswana head of corporate affairs, Esther Kanaimba-Senai

Debswana has reduced its forecast for 2016 production from 21 million carats to 20 million as the diamond giant seeks to reduce the oversupply of polished stones upstream in the market that has weakened prices this year.

For 2015, Debswana had forecast production of 22 million carats. However, a senior finance ministry official revealed in October that the figure had since been revised to 21 million.

Yesterday, Debswana head of corporate affairs, Esther Kanaimba-Senai said the reduction for 2016 would be achieved by shifting priorities within the diamond giant’s mines, which include Jwaneng and Orapa, Letlhakane and Damtshaa Mines (OLDM).

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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