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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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