DTC Officially Launches in Botswana with Diamond Sorting Facility

The Diamond Trading Company Botswana (DTCB) has officially launched in Botswana with the opening Tuesday of its diamond sorting facility in Gaborone. DTCB will be the largest and most sophisticated rough diamond sorting and valuing operation in the world, sorting and valuing in excess of 34 million carats a year of Debswana’s production, according to De Beers.

The operation was born from an agreement signed between De Beers and the government in May 2006 that also extended the sale of Debswana’s production to the DTC for a further five years. “The signing heralded the start of an entirely new partnership model for the DTC in Botswana, said Brian McDonald, managing director of the 50/50 partnership between De Beers and the Government of Botswana.

The company expects that $375 million of rough diamonds will be sold by DTCB to its 16 Botswana-based Sightholders in 2008, rising to $550 million in following years. So far, $270 million of rough diamonds have been supplied for local manufacturing this year.

The company will sort and value all rough diamonds produced by Debswana, not just the goods that are to be supplied locally. DTC plans that the vast majority of De Beers’ global production will be aggregated in Botswana by DTC International by 2009.

DTCB also launched its corporate identity on Tuesday. According to DTCB Corporate Communications and Public Affairs Manager Kago Mmopi, “DTCB’s vision – Diamond Pride, Diamond Prosperity, Diamond Sustainability, we will support the creation of a globally competitive downstream diamond industry in Botswana – played an instrumental role in determining our company’s slogan – ‘Pride and prosperity through Diamonds’.”

DTC Botswana commenced operations at its new facility on March 10 following a successful work simulation run. 

Guest of honor President Festus Mogae said at the ceremony that, for the citizens of Botswana, DTCB will bring increased employment and training opportunities and provide the government with “another significant revenue stream to finance further development.”