Botswana Diamonds evolving from pure diamond explorer to producer – Teeling

Botswana Diamonds is evolving from a pure diamond explorer to a diamond producer, according to the company’s chairperson John Teeling.
“We have an expectation that one or more of our advanced projects will in the near future potentially turn into a diamond mine,” he said.
“Our focus remains Botswana and South Africa, particularly the geology at the Kaapvall craton which straddles the border between the two countries.”
Teeling said this area had produced many of the biggest and most valuable diamonds ever discovered from some of the largest diamond mines ever developed.
Botswana Diamonds, he said, believes that more discoveries are likely particularly using modern techniques and technology.
Meanwhile, commenting on the diamond market, Teeling said prices have rebounded in recent times after a severe fall in the past two years.
“Demand is strong for gem-quality diamonds in the emerging markets and in the US. Meanwhile, supply is at best static with closures in Australia and production problems in Siberia among other problems,” he said.
“The long-term future looks strong as more people enter the middle class and want the things that most European and American consumers buy.  Who would have thought that a pandemic would be positive for the diamond traders?”
He said as the market re-emerges from the shadow of the pandemic, they believe that the middle market of the industry (traders and cutters) is in the best shape for many years.
“Stocks are low, liquidity is good, prices are going up and demand for both rough and polished is very strong,” said Teeling.
“The post-Covid years should see very strong diamond acquisition and gifting. We expect good times ahead for the industry.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished