"The agreement entails, among other points, that Diamond Trading Company Botswana will be established, the Botswana Diamond Valuing Company (BDVC) will be wound up, new sorting and valuation processes, (and) procedures and techniques will be adopted from DTC International," Kedikilwe said.
A Shareholder Working Group comprising representatives of both Government and De Beers was appointed by the two shareholders before the appointment of the DTC Botswana Board and given the responsibility to oversee the BDVC/DTC Botswana transition process. The group stopped operating when members of the joint-venture Board of DTC Botswana - who, in close liaison with the BDVC Board, are the overseers of the transition process - was appointed last September. Meanwhile, it emerged yesterday that retrenchments may be looming at BDVC as its dissolution to make way for DTC Botswana approaches. "In view of the new business model requirements," Minister Kedikilwe said, "it is anticipated that not all staff will be absorbed from BDVC to DTC Botswana.
