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Debswana eyes four-year production high

New broom: Motsomi joined Debswana as managing director in May PIC: MORERI SEJAKGOMO
New broom: Motsomi joined Debswana as managing director in May PIC: MORERI SEJAKGOMO

Diamond giant, Debswana, expects to produce 23.6 million carats this year, the highest since 2018, despite a P1 billion increase in operating costs and headwinds in the global economy.

Last year, Debswana’s local mines produced 22.3 million carats which at the time represented the highest level since 2019, helped along by a rebound in the global economy from COVID-19 and resurgent demand for the precious stones.

By the end of July this year, Debswana’s production for the year stood at 13.8 million carats, slightly below the target level, while sales at 16.2 million carats were above target and the main contributor to the confidence for higher output by year end.

Editor's Comment
Ramogapi & Co should clear the Bonno confusion

According to a report elsewhere in this publication, various district councils announced that a one-bedroom home now costs over P130,000 more, a near-unthinkable 32% increase. This isn't just a minor adjustment, but a devastating blow to the dream of affordable home ownership for ordinary citizens.What is most alarming is not just the scale of the increase, but the profound confusion it has exposed. Minister Ramogapi has publicly...

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