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Work starts on Jwaneng underground

Friday, January 12, 2024 | 810 Views |

Going under: Jwaneng Mine accounts for about 70% of Debswana’s profits and distributions PIC: MORERI SEJAKGOMO

De Beers and government have approved a $1 billion (P13.6 billion) budget to kickstart underground activities at the Jwaneng pit, the country’s single richest diamond mine contributing up to 70% of Debswana’s profits.

With a total budget estimated at $6 billion, the underground mine at Jwaneng will be the country’s single biggest project ever by value and, according to Debswana, will create the world’s largest underground diamond operation.

On Wednesday, Debswana officials said the company’s board had approved P13.6 billion to commence the early access development phase from May. The early access phase will be undertaken by a contractor.

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Work starts on Jwaneng underground

De Beers and government have approved a $1 billion (P13.6 billion) budget to kickstart underground activities at the Jwaneng pit, the country’s single richest diamond mine contributing up to 70% of Debswana’s profits.