Debswana
 |
|
| Limited | |
| Industry | Mining |
| Predecessor | De Beers Botswana Mining Company |
| Founded | June 23, 1969 |
| Headquarters | Gaborone, Botswana |
|
Area served
|
Worldwide |
| Products | Diamonds Coal |
| Owner | Government of Botswana (50%) De Beers (50%) |
| Website | Debswana.com |
Debswana Diamond Company Ltd, or simply Debswana, is a mining company located in Botswana, and is the world's leading producer of diamonds by value. Debswana is a joint venture between the government of Botswana and the South African diamond company De Beers; each party owns 50% of the company. Debswana operates four diamond mines in central Botswana, as well as a coal mine.
The mines owned and operated by Debswana are:
Debswana was formed as the De Beers Botswana Mining Company on June 23, 1969, after De Beers geologists identified diamond-bearing deposits at Orapa in the 1960s. Over the next five years, the government of Botswana increased its ownership stake from an original 15% to a full 50%. On March 25, 1992, the name of the company was changed to Debswana Diamond Company (Proprietary) Ltd. The company’s primary objective is diamond mining and associated processes. Debswana operates the Orapa, Letlhakane, Jwaneng and Damtshaa Mines. The four mines have contributed significantly to Botswana’s socio-economic growth through diamond revenue, transforming the country from an agriculturally based economy in the 1960s to a country that has consistently displayed one of the highest economic growth rates in the world.
All diamond mining in Botswana is controlled by Debswana; there are no private diamond mining operations in the country. Combined production of the company's four mines totaled 30 million carats (6,000 kg), nearly a quarter of the world's annual production of around 130 million carats (26,000 kg). The high value per weight of diamonds mined by Debswana has made the company the leading producer of diamonds by value in the world. Debswana is also the second largest producer by volume.
Diamond mining activities have fuelled much of the growth in Botswana's economy, allowing it to grow from one of the poorest countries in the world when it became independent in 1966 to a "middle income" nation, with $9,200 per capita income in 2004. Largely because of this, Botswana is considered by two major investment services to be the safest credit risk in Africa. Diamonds account for fully one third of the nation's GDP, over 90% of earnings from exports, and 50% of government revenues. Debswana is the largest non-government employer in the country, employing approximately 6,300 people, of whom over 93% are Batswana. Debswana is also the largest earner of foreign currency.
...
Wikipedia