Debswana underground on track despite diamond downturn

Friday, December 13, 2024 | 1390 Views |

The Jwaneng underground project, which will the country’s single largest project and the anchor of future diamond mining, is on track and has exceeded this year’s drilling targets despite Debswana facing a stiff financial test due to the downturn in the precious stones.

At an estimated $6 billion, the Jwaneng project will create the world’s largest underground diamond operation, involving 360 kilometres of tunnels.

Starting in 2034 and going up to at least 2054, the project will bring up nine million carats to the surface annually, anchoring Debswana and the government’s revenues at a critical time when the country’s diamond resources are tapering out.

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