DTC Botswana's 2nd rough sale ends today
WANETSHA MOSINYI
Staff Writer
| Friday June 6, 2008 00:00
DTC Botswana's Corporate Communications and Public Affairs Manager Kago Mmopi says as with the first sale, everything went smoothly with the second sale which started on Monday.
DTC Botswana was launched this year. It had its first sale during the week of April 28 and says its two sales so far have both sales been a great success.
Mmopi says the sales are a major milestone towards supporting the development of a sustainable and competitive local cutting industry in Botswana.
The sale is exclusive to DTC Botswana's clients, which are 16 of the world's leading diamantaires licensed to cut and polish diamonds in Botswana.
Mmopi says both sales were conducted according to plan and that this was made possible by cooperation and support from across DTC Botswana and the various government departments involved in the process.
He says of lessons learned from the sale: 'We all need to work together to ensure that the local downstream industry is given the support it requires to develop into a commercially competitive and sustainable diamond centre that will act as a catalyst for the diversification of Botswana's economy.'
DTC Botswana is scheduled to hold 10 sights this year alone and the annual value of the sales is expected to be in the region of $375 million.
The sale by DTC Botswana is sourced from DTC International's aggregated mix in London.
An aggregated mix is a blend of diamonds sourced from various producer countries including Russia, De Beers-owned mines in Canada and South Africa and those where there are joint venture partnerships in Botswana, Namibia and Tanzania.
Starting next year, DTC International will relocate to Botswana and all De Beers sightholders around the world will buy their aggregated mix from Botswana.
Meanwhile, one of DTC Botswana sightholders, Dalumi Diamonds, was this week embroiled in a labour wrangle with its employees who went on strike downed tools over wages.
The cost of labour in the cutting and polishing of diamonds in Botswana is said to be five times higher than in other countries like India and China.