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Diamond Beneficiation: What is It?
African diamond producing countries such as Botswana and Namibia have for years sought to improve the economic standing of it's citizens by benefiting as much as possible from their natural resources without much success. This was due to exclusive contracts with DeBeers which had a monoply and control over the diamond rough and exported it to the major cutting centers for manufacturing into polished diamonds.
Now however, major changes are under way with the Government of Botswana recently announcing the creation of a Diamond Technology Park that will house diamond cutting factories, Banks, courier companies, machinery suppliers, information technology companies, security services, cleaning companies, restaurants, and retail shops. When fully operational by 2009, it's expected to house 2.500 employees.
Training Botswanians to cut Diamonds.
Photo Courtesy of Rapaport News.
Diamond rough mined in Botswana will stay in the country and the Government has committed to training and employing as many Botswanians and as few expatriates as possible. In this regard they are taking a page out of the South African's Gov't playbook in that South Africa makes it exceedingly difficult for it's mined diamond rough to be exported by levying confiscatory taxes and other impediments.
Creating employment that is internal raises the standard of living, increases the middle class and tax base and provides for political stability.
Stay tuned.
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