Jwaneng Mine exceeds cost-cutting targets

Shiny stones: Jwaneng Mine does not intend to restrain production despite lower demand PIC: TIMOTHY LEWANIKA
Shiny stones: Jwaneng Mine does not intend to restrain production despite lower demand PIC: TIMOTHY LEWANIKA

The world’s richest diamond mine by value, Jwaneng Mine, has exceeded its annual goal of cutting its spending by P3.5 billion, putting it in good stead as the slowdown in demand and prices of the stones continues.

The Mine was tasked with saving P3.5 billion this financial year, but its general manager, Koolatotse Koolatotse told journalists last week that at least P3.7 billion had been achieved by mid-year.

“Jwaneng was allocated P3.5 billion in savings and Orapa P3.5 billion. “As of June, we are at P3.7 billion savings and that tells you a story that we are resilient. “When the market goes down, we will behave exactly like the market is down,” he said.

Editor's Comment
Let’s get the constitutional amendment right

Their concerns highlight the need for meaningful dialogue between government and relevant stakeholders to ensure the best interests of the country are served.This was in addition to other voices from opposition politicians and civil society organisations.The stance underscores the importance of citizen participation in the constitutional amendment process. The AFM rightly assert that such weighty matters demand thorough discussions to reflect the...

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