DTC Botswana to be Equal Partnership between DB and Government

More details about the future plans of the DTC to offer diamonds in Botswana were revealed during a Parliamentary discussion a few days ago in Gaborone. According to Charles Tibone, Minister of Minerals, Energy and Water Resources, the Botswana government and De Beers will form a new company, DTC Botswana, owned equally by the two.

During a debate on this year’s budget, the minister said DTC Botswana will serve as the sorting and marketing arm of Debswana, adding that “it is through this company that it is hoped to promote local beneficiation of our diamonds”. DTC Botswana is expected to supply rough diamonds to the local diamond cutting and polishing industry.

This supply of diamonds to the country is expected to increase government revenues by $113.5 million annually.

Local supply of rough diamonds by De Beers and its marketing company DTC is a source of heated debate. While many countries, including South Africa, Namibia and Canada demand that a portion of locally mined diamonds remain in the country, De Beers ships all its goods to DTC’s headquarters in London for sorting before selling the goods to its clients.