Govt revenues face drop as De Beersďż˝ sales plunge
Friday, July 17, 2015
De Beers, which gets about 75 percent of its output from Botswana mines, pays government of Botswana 80 cents out of every dollar derived from Debswana revenues. According to figures released yesterday by the parent company, Anglo American production fell six percent to 7.96 million carats in the second quarter and by three percent to 15.63 million carats in the first half of the year.
The lower output is in line with De Beers’ strategy to lower supply and maintain steady prices.
We duly congratulate them to have ousted the long ruling Botswana Democratic Party (BDP) from power. Prior to taking power from the BDP, the coalition had made several election promises that are credited for influencing change and swaying the people to vote in its favour.The party had made an undertaking, which its leader and President Duma Boko consistently bellowed in his campaign trail. These undertakings were promises that Batswana would be...