Listed Mining Companies
ADD A COMMENT PRINT 
South African diamond-mining giant De Beers has announced that the shareholders of Debswana, including the government of Botswana, have approved a major extension project at the world’s richest diamond mine, Jwaneng, in Botswana.
De Beers MD Gareth Penny said recently
that the project, also known as Cut-8, was a key component of Debswana’s North Star strategy and the largest-ever single capital commitment in the private sector in Botswana.
“Cut-8 will ensure profitable and continuous production at the mine until at least 2025.
Debswana will invest $500-million in capital expenditure and, taking into account all project stages, including feasibility, design, implementation and mining operations, as well as the cost of plant and equipment, the estimated project investment is likely to total $3-billion over the next 15 years,” said Penny.
At its peak, the project would create more than 1 000 jobs. The development would
require the removal of over 700-million tons of waste between 2010 and 2024, exposing an additional 78-million tons of diamond-bearing ore and deepening the Jwaneng pit to
650 m. It is expected that this will create access
to a further 95-million carats, which could be worth in excess of $15-billion over the life of the mine.
Speaking at an industry town hall meeting in Gaborone, Botswana, Penny said that successfully managing a project of this magnitude and bringing it in on time, within budget, with zero harm to people and property, and at a minimal impact to the environment,
required a dedicated and steadfast team.
