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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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