RAPAPORT… Debswana, De Beers’ joint venture with Botswana, has launched a new project set to
extend the life of its Jwaneng mine until 2035.
The Cut-9 expansion, which will cost Debswana approximately
$2 billion, is expected to produce an estimated 53 million carats of rough
diamonds, the company said Monday.
“With global consumer demand for diamonds reaching record
levels in 2018, the extension will enable us to continue to meet the needs of
our consumers all over the world,” said Debswana chairman and De Beers CEO
Bruce Cleaver.
The extension will create about 1,000 jobs, most of which
will be given to citizens of Botswana, the company said. Majwe Mining, a joint
venture between Bothakga Burrow Botswana and Thiess Botswana, will provide
mining services for the project.
In 2010, Debswana began its Cut-8 project, which extended
Jwaneng’s life until 2033.
Debswana is a 50-50 partnership between De Beers and the
government of Botswana.
Image: Jwaneng mine. (Debswana)
De Beers Extends Jwaneng Mine Life
The Bottom Line
- Debswana's Cut-9 project will extend Jwaneng mine's operational life until 2035 with an estimated output of 53 million carats.
- The $2 billion expansion will create approximately 1,000 jobs, primarily for Botswana citizens.
- Majwe Mining, a local joint venture, will provide mining services for the Cut-9 project.
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