Botswana : De Beers approves a $1 billion investment in the Jwaneng mine

The global diamond giant, De Beers, has confirmed its commitment to a $1 billion investment to extend the operation life of its flagship Jwaneng mine in Botswana. This decision is upheld even in the face of the anticipated decline in demand for gemstones in 2023.

The Debswana Diamond Company, jointly owned by Anglo American and the Botswana government, has also given its approval for these expenditures. The project aims to convert the Jwaneng pit into an underground operation, and in 2018, Debswana had already announced its intention to invest in extending the mine’s lifespan by 11 years starting from 2024.

De Beers emphasizes that these expenditures are essential due to the expected tightening of the long-term supply of rough gemstones.