LKI in Talks to Open Botswana Polishing Plant

Lazare Kaplan International (LKI) is in discussions with the government of Botswana to obtain a license to cut and polish rough diamonds in that country.  In an address to shareholders last week during LKI’s annual meeting, chairman Maurice Tempelsman said that his company’s goal is to have an “active presence” in Botswana. 

Currently, De Beers is the only producer of diamonds in Botswana. 

Tempelsman had previously mentioned the possibility of involvement in Botswana in his letter to shareholders in the company’s annual report, where he said, “The company is examining projects to assess economic viability and eligibility under the previously announced financing agreement with the U.S. Overseas Private Investment Corporation (OPIC) applicable to diamond beneficiation and mining projects in Angola, Botswana, Namibia, Russia, and South Africa.” 

Lazare Kaplan has multiple sources for diamonds, including the DTC (as a sightholder), Russia (partner with Alrosa), Namibia (cooperative agreement with NamGem), South Africa (partnering with Nozala Investments, a women’s empowerment group), and Angola (joint venture with Sodiam). 

In addition, the company is in the final stages of redrawing its agreement to produce Bellataire enhanced diamonds.