‘Diamonds About to Become Our Undoing’ Says Botswana Minister
February 03, 09
Botswana's Minister of Minerals, Energy and Water Resources surprised many in the diamond industry in his country when he declared “Diamonds have uplifted our lives, but with the way the tide has changed they are about to become our undoing,” according to Mmegi.
Minister Ponatshego Kedikilwe spoke Wednesday at the opening of the Diamond Technology Park, an initiative of Diamond Trading Company (DTC) Sightholder Safdico.
According to Kedikilwe, DTC Sightholders are reducing staff and some 3,000 jobs are now at jeopardy. “We had also targeted to achieve at least $550 million from rough sales this year and now I am not sure if that will be done,” Kedikilwe reportedly said.
Kedikilwe blamed the recession and the global economic crisis for the situation.