Ghaghoo auction lifts Gaborone diamond buzz
Wednesday, January 28, 2015
International diamond buyers now visit Gaborone regulary to participate in auctions and sights
Located in the Central Kalahari Game Reserve (CKGR), Ghaghoo Mine is still in the commissioning stage after it was officially opened last September.
In a trading update released yesterday, promoters of Botswana’s first underground mine, Gem Diamonds said that a total of 10,167 carats were recovered during commissioning period up to year-end.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...