ODC follows De Beers into supply contracts

Okavango Diamond Company (ODC) is planning to introduce fixed-term supply contracts in 2014 to become a direct competitor to De Beers.

Currently, the fledgling state-owned diamond company only sells through auctions.  “We recognise the value to the market of committed supply arrangements and it has always been our intention to introduce fixed term contracts alongside

our regular auction sales. We intend to analyse various fixed term options and we will endeavour to introduce our fixed term contracts in 2014,” Deputy Managing Director Marcus ter Haar told Mmegi. In 2013, the company is entitled to 12% of rough supply from Debswana, the joint venture between De Beers and the Botswana government,  which is expected to increase to 15% by 2016.

Editor's Comment
Has life become worthless?

As many wondered what wrong the young boy could have done to end up killed, it emerged that his own cousin was a suspect in the murder after he claimed P50,000 from Botswana Life. Thato Tsametse, who was last week sentenced to death for the murder of his cousin, had reportedly taken out two Mmoloki Funeral Covers valued at P25,000 each.Over the years, the media has been covering the murder case, and some revelation has come up that certain...

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