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Tag: Botswana

Mining company Lucara unearths sixth diamond over 1,000 carats at Karowe Mine in Botswana

“The recovery of this exceptional 1,094-carat diamond is a testament to Karowe’s remarkable potential and further validates our investment in the underground expansion project. These continued discoveries of large, high-value diamonds demonstrate the consistent quality of our resource and its ability to deliver substantial returns,” said William Lamb, President and CEO of Lucara. The discovery…
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September 19, 2024
The biggest diamond in over a century is found in Botswana — a whopping 2,492 carats

GABORONE, Botswana (AP) — The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country’s president showed off the fist-sized stone to the world at a viewing ceremony Thursday. The Botswana government says the huge 2,492-carat diamond is the second-biggest ever discovered in a mine. It’s…
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August 24, 2024
Botswana aims to negotiate bigger stake in HB Antwerp diamond dealer

Botswana intends to renegotiate its proposed purchase of a stake in Belgian gem dealer HB Antwerp to double the size of its shareholding at no extra cost following the downturn in the diamond market, the country’s mines minister said on Tuesday. Botswana is the world’s biggest diamond producer by value, meaning its economy has been…
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August 14, 2024
Eight African countries make top 10 diamond-producing countries globally

Eight African nations secured positions within the top ten diamond-producing countries worldwide in 2023, highlighting Africa’s significant contribution to the global diamond industry. Africa is renowned for its wealth in valuable minerals essential for economic development, such as gold, copper, and platinum. The continent holds about 30% of the world’s total mineral reserves, impacting various…
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July 26, 2024
New Visa Requirements Announced For Botswana, South Africa

Nationals from Botswana and South Africa must obtain a visa before travelling to Ireland starting Wednesday, as stated by Minister for Justice Helen McEntee. The Department of Justice has announced that a transit visa will also be necessary for individuals from these countries planning to transit through Ireland to another destination. This measure aims to…
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July 16, 2024
IMF slashes Botswana’s 2024 growth forecast amid diamond market woes

The International Monetary Fund (IMF) has slashed Botswana’s 2024 growth forecast to 1% from an earlier April estimate of 3.6% due mainly to lower diamond production, it said in a statement. The budget deficit is also expected to widen to 6% from 3.45% due to a fall in mineral revenues, the IMF said, urging the…
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July 13, 2024
EXPERIENCE AFRICA 2024 OPENS ITS DOORS TO RECORD-BREAKING ATTENDANCE

Experience Africa, the premier trade event for the African travel industry, kicked off in London today with unprecedented attendance and engagement. The event has drawn 602 attendees from 37 countries, showcasing the growing global interest in African tourism. The show saw a notable surge in international buyers, signalling strong interest in the continent’s diverse tourism…
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July 6, 2024
Botswana GDP shrinks most since 2020 as diamond output plunges

Botswana’s economy contracted by the most since the peak of the pandemic in early 2020, after diamond production plunged. Gross domestic product shrank an annual 5.3% in the first quarter, compared with growth of 1.9% in the prior three months. The downturn was primarily influenced by a decrease in real value added of the diamond…
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June 30, 2024