Debswana to spend P20 billion on expansion

Cut 8, as the project to extend the life of the world's biggest diamond operation by production value is styled, "will ensure profitable and continuous production at the mine until at least 2025", De Beers Managing Director, Gareth Penny, said at a Diamond Town Hall Meeting at GICC on Tuesday. The project is expected to create access to a further 95 million carats of diamonds and create 1 000 jobs during construction.

"This is the single largest investment ever made in the private sector in Botswana and it shows the confidence we have in this industry," Penny told an audience that included some of the leading diamond manufactures in the world.