Ghaghoo Mine sale flops
Thursday, May 12, 2022 | 2670 Views |
![Hey days: Ghaghoo Mine was the country's first underground diamond mine PIC: GEM DIAMONDS.COM](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/mmegi/uploads/images/2022/05/12/37388.jpg&w=800&q=72&f=jpg&t=1)
Hey days: Ghaghoo Mine was the country's first underground diamond mine PIC: GEM DIAMONDS.COM
Ghaghoo, which was the country’s first underground diamond mine, was placed under care and maintenance in February 2017 due to depressed diamond prices. At least 250 workers had their contracts terminated as a result.
Okwa Diamonds, an entity owned 10% by Botswana Diamonds with the balance held by VAST Resources, had announced its plans to take over Ghaghoo last August from Gem Diamonds. However, in February, Botswana Diamonds’ directors announced that their partners at VAST had informed the boards of both BOD and Gem Diamonds that they do not intend to proceed with the transaction.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...