Diamond firm closes, 400 jobs axed
Wednesday, February 04, 2015
Under pressure: High rough diamond prices set against low polished prices has squeezed margins for cutting and polishing firms
The Serowe based company, which started operations in Botswana over 20 years ago, is the first local casualty of liquidity and profitability pressures facing diamond polishing companies globally. The affected workers include 320 Batswana and 64 expatriates.
“The closure of the factory is as a result of commercial pressures faced by the operation.
“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...