- The true value of diamonds lies in the dedication and innovation of those who unearth them from the earth
In a land renowned for its unassuming name, Jwaneng Mine, proudly stands as one of the world’s most prosperous diamond mines, defying its humble beginnings.
But inspite of its name, “place where small stones are found,” Jwaneng Mine has evolved into a global diamond industry powerhouse, consistently producing some of the world’s most valuable gems.
Journalists heard this remarkable success story in the course of a media tour recently and learnt about what continues to solidify the mine’s status as the flagship operation of Debswana, the joint venture between De Beers and the Botswana Government.
Jwaneng Mine consistently yields exceptionally valuable diamonds, contributing significantly to Debswana’s revenue, accounting for roughly 60-70% of the company’s total income.
In the ever-evolving diamond industry, maintaining operational efficiency and achieving breakthrough performance remain essential. Jwaneng Mine is making impressive progress towards this ambitious goals.
The General Manager, Mr Koolatotse Koolatotse, has proudly announced that the mine had not only met but exceeded its Big Harry Audacious Goal (BHAG) target of saving P3.5 billion during the ODOT 2024 strategy period.
Leading by example
The goal was a crucial part of the Debswana 2024 strategy, launched in 2019, which aimed to return an additional P10 billion to shareholders through cash efficiency and cost containment.
Mr Koolatotse emphasised: “By June 2023, we had already reached the P3.5 billion target set for us, and we have now surpassed it, currently standing at P3.7 billion, well ahead of our 2024 goal.”
He underlined the significance of leading by example and mentioned the decision to cancel an expensive corporate trip, showcasing their commitment to fiscal responsibility.
Mr Koolatotse urged corporate organisations and the business community to invest in and empower local enterprises. He stressed the importance of training and developing the local workforce, thus turning them into valuable assets.
Jwaneng Mine’s dedication to human resource development is evident through its efforts to nurture “human diamonds.”
Meanwhile, Naledi Mining Services, a subsidiary of Debswana, is making substantial strides in expanding its business beyond its parent company. Established to manage mining operations at Jwaneng’s Cut 9 project, Naledi is already exploring opportunities to diversify its revenue sources.
Bokang Thitoyamore, Senior Manager at Naledi Mining Services, unveiled their ambitious plan to increase revenue from P300 million per annum to P1 billion by the 2026 financial year.
The company is actively engaging with stakeholders in the mining industry to explore opportunities beyond Debswana and Botswana’s borders.
Jwaneng Mine’s significance to the Botswana economy is immeasurable. Even in challenging market conditions, the mine achieved a remarkable 21% revenue growth from January to September, defying market trends of declining sales.
As the golden goose of Botswana and De Beers Group, Jwaneng Mine underscores the nation’s commitment to excellence and progress in the diamond industry.
At the heart of Botswana’s wealth, Jwaneng Mine continues to demonstrate that the true value of a diamond lies not only in its brilliance but in the dedication and innovation of those who unearth them from the earth.