Gloomy outlook for Ghaghoo Mine

Ghaghoo Mine
Ghaghoo Mine

Gem Diamonds says it will soon make a decision on the financial viability of its Ghaghoo mine as it does not see an immediate recovery in prices of the kind of diamonds mined at the CKGR-based mine.

In the production update for the last quarter of 2016, the London Stock Exchange listed Gem Diamonds said diamonds prices at Ghaghoo fell 30% over 2016 while production was cut by 55%.

In 2016, Ghaghoo mine produced 40,976 carats from 91,499 carats in 2015, representing a 55% fall in output.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

Have a Story? Send Us a tip
arrow up