GABORONE (Reuters) - Botswana’s Debswana Diamond Mining, a joint venture between De Beers and the government, said on Monday it would invest $2 billion in a project to extend the lifespan of its Jwaneng mine to 2035.
The project, known as Cut 9, follows a $3 billion expansion of Botswana’s richest diamond mine in 2010 which aimed to extend its life to 2030 and uncover 92 million carats of diamond.
Jwaneng Mine in south central Botswana is one of the world’s richest diamond mines by value.
Majwe, a joint venture between Australian firm Thiess and long-term local partner Bothakga Burrow Botswana, has been awarded a $1.2 billion contract to provide mining services for the project which is expected to yield an estimated 53 million carats of rough diamonds from 44 million tonnes of treated material.
Debswana, which owns three other diamond mines in the country, last week said it saw production remaining steady at around 24 million carats in 2019.
($1 = 1.4073 Australian dollars)
Reporting by Brian Benza; Writing by Tanisha Heiberg; editing by Emelia Sithole-Matarise