Inside the world's richest diamond mine
Monday, December 07, 2015
The operation, owned as a joint venture between De Beers and the government of Botswana, is the richest diamond mine in the world and, as managing director Albert Milton says, "one of the most important assets in the country."
Nicknamed "the Prince of Mines", Jwaneng was opened in 1982, as the diamond trade propelled Botswana from one of the poorest countries on earth to one of Africa's wealthiest.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...