Govt earns P3.3 billion in diamond royalties, taxes

A newly released De Beers report states that the Government of Botswana earned P3.3 billion from taxes and royalties from Debswana mines last year, approximately 40 percent lower than previous levels.

Released on Wednesday, De Beers' Report to Society (RtS) 2009 details the diamond giant's contribution to governments, communities, the environment and its performance across several other non-financial indicators over the year. Before the recession, Botswana, Namibia and South Africa earned P8.4 billion in royalties, taxes and other charges on mines either wholly or 50 percent owned by De Beers. Generally, Debswana accounts for about 70 percent of this revenue.

But last year, governments in Botswana, South Africa and Namibia collectively earned P4.8 billion from royalties, taxes and charges stemming from De Beers' mining operations.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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