Botswana Puts Diamond Polishing Licenses on Hold

The Government of Botswana has suspended issuing licenses for diamond manufacturing until further notice, the Minister of Minerals, Energy and Water Resources said.

Speaking during a tour of the new Diamond Trading Company (DTC) building in Gaborone, Minister Ponatshego Kedikilwe warned that the proliferation of manufacturing companies might make the industry difficult to regulate.

He said that there is a need to establish an office that will monitor the manufacturing companies and regulate the trade.

As part of Botswana’s efforts for local beneficiation, in which polishing plays a major part, the government is lobbying banks that specialize in the diamond industry to establish branches in Botswana to support the budding industry.

De Beers is moving the DTC sorting facility from London to Gaborone and will offer local Sights to companies with polishing plants in the southern Africa country.

The DTC facility is scheduled to open in November.