Botswana is set to lift a ban on new licenses for diamond cutters and polishers in April this year, mines ministry said.
The Southern African nation first instituted the ban in 2007 due to concerns that the growing number of firms would pose regulatory challenges while undermining healthy competition within the industry.
Mines ministry spokesperson Potso Thari said that the anticipated increase in supply of rough diamonds following a new sales agreement between Botswana and De Beers had necessitated the lifting of the ban.
Under the deal, Botswana would independently sell 10 percent of Debswana’s run of mine production and this would rise to 15 percent in 2016.
Although Botswana was yet to make use of its entitlement it recently established Okavango Diamond Trading Company that would handle the proposed government tenders.
Namibia also instituted a similar ban, athough it was yet to lift the suspension.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
