God’s gift that keeps on giving
Mbongeni Mguni | Tuesday July 30, 2024 15:51
Carried from the Earth’s core over thousands of kilometres by geological processes, the fact that three of these small shiny stones were spotted in Motloutse River in 1959 is a miracle.
An even bigger miracle, however, is that after a journey over millions of years, the discovery was made at a time when value could be assigned to the stones. Had they arrived a 1,000 years earlier, diamonds would likely have gone unspotted or if they had been seen, they would been disregarded.
Instead, through a confluence of factors, including growing market demand, the elementary but ultimately effective mineral exploration “technology” of the time and a dogged determination to search the rugged bushes of pre-Independence Botswana, the country uncovered the world’s richest resource of a miracle commodity.
As Debswana stepped up its 55th anniversary celebrations this week, one executive spoke frankly.
“This was God’s gift to us for Independence and it’s the gift that keeps on giving.
“We would be nothing without diamonds.
“We owe it to future generations to spread the impact of these stones across the entire economy.
“It’s a major responsibility.”
Debswana, the joint venture between government and De Beers, was established in 1969 and today, produces more than 95% of the country’s diamonds. Diamonds account for about a third of budget revenues and the bulk of foreign currency earnings. The country is also one of the world’s biggest producers of diamonds by value.
Technically speaking, it is known how long God’s gift can keep on giving. With the ongoing multi-billion Pula capital projects such as the development of an underground operation at Jwaneng Mine, Debswana’s diamonds are expected to peter out in the 2050, after decades of mining.
Minerals and Energy minister, Lefoko Moagi, says the focus for some time has been on sustainability, or ensuring that the values coming out of the ground are spread into other transformational activities in the economy.
In other words, every carat dug up should add to the pace of the sustainable development. That way, God’s gift can keep on giving.
“Sustainability is the new paradigm and hence the importance of the theme for the celebrations which is ‘More than Diamond Mining,’” Moagi said at an event held this week as part of the celebrations.
“Our diamonds are not just gems but the foundation on which the hope and promises of our economy have been built.
“Debswana has singlehandedly anchored the transformation of this country since Independence.”
The transformational impact of diamonds is an oft-repeated story, but one that has resisted the tedium that usually accompanies repetition. The secret is the marvel and miracle of the discovery of diamonds, their mind-blowing origin and the role they have played in lifting an agrarian economy into a modern, developing and ambitious country.
The bedrock of social and economic policies adopted by the country’s post-Independence leaders, combined with diamond revenues to build primary infrastructure, support the rollout of education, health and other services, while enabling the development of secondary and tertiary infrastructure such as telecommunications and the Internet.
Diamonds supported the development of secondary services such as banking and insurance, which ballooned after the handful present after Independence were mainly outposts for the convenience of the South African trader.
Today, diamonds have enabled the growth of sophisticated sectors staffed by highly trained citizens such as the legal fraternity, asset management, stockbroking, accountancy and auditing as well as the thriving capital market, to mention a few. Prudent policymaking also led to the establishment of the Pula Fund as a generational store for diamond revenues.
Policymaking itself has been shaped over the decades by the cyclical nature of diamond mining, with the enactment of fiscal rules and precepts around how much to spend, how much to borrow and in which currency.
Today, the foundation of economic development provided by diamonds has evolved into the springboard from which President Mokgweetsi Masisi is building his transformational agenda to lead the country towards becoming a high income economy.
Debswana abandoned its original plan to celebrate its anniversary on a single day. Instead, the company will celebrate at its operations countrywide for three months as a way of hammering home the message of impact beyond diamonds.
“We are making it clear to all our stakeholders that Debswana is more than just a mining company,” said managing director, Andrew Motsomi.
“We don’t limit our output to the unearthing of gems, but enriching the lives of our people and the country.
“Drawing from the last 55 years, we must remember the great responsibility we have which is to continue to shape the future by looking at the ways Debswana can continue to make life brilliant for the next 55 years.”
The three shiny stones in the Motloutse River, the country’s visionary leadership and the efforts of many Batswana are ensuring that for generations to come, God’s gift keeps on giving.