Income and profits
| Year | Income (Billions US$) | Carats produced | Income chg/yr. |
|---|---|---|---|
| 2011. [6] | 1.08 | 22,900,000 | |
| 2012. [6] | 0.7 | 20,200,000 |  35% |
| Company type | Limited |
|---|---|
| Industry | Mining |
| Predecessor | De Beers Botswana Mining Company |
| Founded | June 23, 1969 |
| Headquarters | , |
Area served | Worldwide |
Key people | Bruce Cleaver Chairman Andrew Maatla Motsomi Managing Director [1] |
| Products | Diamonds Coal |
| Owner | Government of Botswana (50%) and De Beers (50%) |
Number of employees | 6,400 (2020) [2] |
| Website | debswana.com |
Debswana Diamond Company Limited, or simply Debswana, is a mining company located in Botswana, and is the world's leading producer of diamonds by value. [3] Debswana operates four diamond mines in the eastern and central parts of Botswana, as well as a coal mine. [3] Debswana is a joint venture between the government of Botswana and the South African diamond company De Beers; each party owns 50 percent of the company. [3]
The mines Debswana owns and operates are:
Debswana was formed as the De Beers Botswana Mining Company on the 23rd of June 1968, [4] 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 percent to 50 percent. On March 25, 1992, the name of the company was changed to Debswana Diamond Company (Proprietary) Limited. 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. [3] [5]
Debswana unearthed a 1,098 carat diamond in Botswana in June 2021. It is believed to be the third largest gem-quality stone ever to be mined. (Reuters)
Debswana controls all diamond mining in Botswana; there are no private diamond mining operations in the country. Combined production of the company's four mines totalled 30 million carats 6,000 kilograms (13,228 lb), nearly a quarter of the world's annual production of around 130 million carats 26,000 kilograms (57,320 lb). 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.Debswana Diamond Company (31 December 2018). "Report To Stakeholders As At 31 December 2018" (PDF). Gaborone: Debswana Diamond Company Limited. Retrieved 10 May 2020.</ref>
| Year | Income (Billions US$) | Carats produced | Income chg/yr. |
|---|---|---|---|
| 2011. [6] | 1.08 | 22,900,000 | |
| 2012. [6] | 0.7 | 20,200,000 | 35% |
Diamond mining activities have fueled 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. The country has an agenda of becoming a "high-income" country by 2036. [7] Largely because of this, Botswana is considered by two major investment services to be the safest credit risk in Africa. Diamonds account for approximately one third of the nation's GDP and over 80 percent of earnings from exports, as of 2019. Debswana is the largest non-government employer in the country, employing approximately 6,400 people, of whom over 93 percent are Batswana. [2] [7]
Debswana has been criticised by the international indigenous rights organisation, Survival International, for not respecting the human rights of the Bushmen living in Botswana. Since the mid-eighties, Survival International has published reports that the Botswana government has conducted a campaign of harassment to drive them out and give way to mining exploration. Louis Nchindo, Former Managing Director of Debswana, has said: "The Government was justified in removing the Basarwa from the Reserve… It is sensible of Government to take such action. Otherwise who would always want to remain in the Dark Ages while others move forward?". [8] According to Stephen Corry, Director of Survival International, the Bushmen are not backward or primitive, and their human and cultural rights must be respected. The Botswana government has consistently refuted Survival's claims as exaggerated. There is still no evidence of Debswana mining in the Central Kalahari Game Reserve as the company operates mines elsewhere, at Jwaneng, Orapa, Letlhakane and Damtshaa. [9]
The economy of Botswana is currently one of the world's fastest growing economies, averaging about 5% per annum over the past decade. Growth in private sector employment averaged about 10% per annum during the first 30 years of the country's independence. After a period of stagnation at the turn of the 21st century, Botswana's economy registered strong levels of growth, with GDP growth exceeding 6–7% targets. Botswana has been praised by the African Development Bank for sustaining one of the world's longest economic booms. Economic growth since the late 1960s has been on par with some of Asia's largest economies. The government has consistently maintained budget surpluses and has extensive foreign-exchange reserves.
The De Beers Group is a South African-British corporation that specializes in the diamond industry, including mining, exploitation, retail, inscription, grading, trading and industrial diamond manufacturing. The company is active in open-pit, underground, large-scale alluvial and coastal mining. It operates in 35 countries with mining taking place in Botswana, Namibia, South Africa, and Canada. It also has an artisanal mining business, Gemfair, which operates in Sierra Leone.
The Orapa diamond mine is the world's largest diamond mine by area. The mine is located in Orapa, a town in the Central District of Botswana about 240 km (150 mi) west of the city of Francistown. Orapa is owned by Debswana, a partnership between the De Beers company and the government of Botswana. The mine was discovered on 1 March 1967, a year after Botswana's independence, by a team of De Beers geologists, including Manfred Marx, Jim Gibson and led by Dr. Gavin Lamont. It is the oldest of four mines operated by the company, and began operations in July 1971 and its first production was 1,438,168 carats (287,633.6 g). The revenue the mine generated is credited for transforming the Botswana economy, as it allowed the government to invest in critical social services and national infrastructure.
The Letlhakane diamond mine is a diamond mine located in Botswana about 190 kilometers (120 mi) west of the city of Francistown. Letlhakane, meaning "little reeds", is owned by Debswana, a partnership between the De Beers company and the government of Botswana. It is the second oldest of four mines operated by the company, having begun operations in 1975.
The Jwaneng diamond mine is the richest diamond mine in the world, and also the second largest in the world. It is nicknamed "the Prince of Mines", and is located in south-central Botswana about 170 kilometers (110 mi) southwest of the city of Gaborone.
The Damtshaa diamond mine is a diamond mine located in Botswana about 220 km west of the city of Francistown. Damtshaa, meaning "water for a tortoise", is owned by Debswana, a partnership between the De Beers company, Aquarius Global Resources and the government of Botswana. It is the newest of four mines operated by the company, officially opening on October 25, 2003.
Letlhakane is an urban village in the Central District of Botswana.The village has a population of approximately 22’000 as at 2022 Population Census counting. Letlhakane serves as the headquarters of the Boteti sub-district council. It is considered the second most central village in Botswana after Serowe, connecting the upper Northern, Eastern areas as well as the Western areas of the country.
Firestone Diamonds plc is an AIM-listed United Kingdom-based company, operating in Lesotho and Botswana. In May 2018, the firm announced the appointment of Paul Bosma as CEO slated to succeed Stuart Brown on 1 July 2018. In 2021 Firestone Diamonds appointed Rob De Pretto as CEO to succeed Paul Bosma, who has left the company after seven years. He has also held executive and leadership roles at Diamcor Mining, Anglo American Research and De Beers.
The mining industry of Botswana has dominated the national economy of Botswana since the 1970s, being a primary sector industry. Diamond has been the leading component of the mineral sector ever since production of gems started being extracted by the mining company Debswana. Most of Botswana's diamond production is of gem quality, resulting in the country's position as the world's leading producer of diamond by value. Copper, gold, nickel, coal and soda ash production also has held significant, though smaller, roles in the economy.
Gem Diamonds is a British-based global diamond mining business. It is headquartered in London and is listed on the London Stock Exchange. In 2017, the company generated a profit of $20.8 million.
Lucara Diamond Corp. is a diamond exploration and mining company, founded in 2009 by two Canadian mining executives, Eira Thomas, Catherine McLeod-Seltzer and Swedish-Canadian mining billionaire Lukas Lundin, operating in Southern Africa but established in Canada. In November 2015, Lesedi La Rona, the world's second largest gem-quality diamond ever found, was found at the Karowe mine in Botswana.
The geology of Botswana plays a significant part in the country's economy. The basement rocks of the Kaapvaal-Zimbabwe craton extend into Botswana whilst in the east and southeast, metamorphic rocks of Archaean age are dominant. A younger cover of Karoo rocks and post-Cretaceous Kalahari Group sediments conceal the western margins of these older rocks and largely conceal Proterozoic orogenic belts too. This younger stratum was laid down in the Kalahari Basin underlying large parts of the centre of the country. In the northwest of Botswana, more recent sediments overlie rocks of Meso- and Neoproterozoic age rocks, belonging probably to the Damara Belt.
Ancestral land conflict over the Central Kalahari Game Reserve (CKGR) arose in the 1970s between the government of Botswana and the San people (Bushmen), and is ongoing, resulting in one of the most expensive court cases in the history of Botswana.
The Orapa Power Station is a Peak load power generation plant located in the mining town of Orapa in northeastern Botswana in the Central District. It is built within the Debswana Diamond Company Ltd Orapa diamond mine fenced leased area and owned by the Government of Botswana who mandated the Botswana Power Corporation to manage, operate and maintain the facility.
Lynette Armstrong is a Botswana accountant and corporate executive, who was appointed as the acting chief executive officer of Debswana Diamond Company Limited, the largest diamond-mining company in the world, by value. She was appointed to that position in August 2019. Before that, from December 2015 until August 2019, Armstrong was the chief financial officer (CFO) at the same company. She relinquished he CEO/Managing Director role on 1 June 2022 when Andrew Maatla Motsomi became the new substantive CEO. Ms Armstrong resumed her role of CFO at Debswana.
The following lists events that happened during the 1960s in Botswana, beginning with its independence on 30 September 1966.
This article incorporates public domain material from "Botswana". The World Factbook (2024 ed.). CIA. (Archived 2017 edition.)
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