Tag Archives: Diamonds
Botswana: Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19
IMF Staff Concludes 2017 Article IV Visit to Botswana
- Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19. Fiscal projections envisage moderate deficits this year and the next, with surpluses thereafter.
- Tax revenue reforms need to be accelerated to protect public finances against any adverse developments and maintain the country’s track record of sound fiscal management.
- The inflation rate remained low, close to the lower band of the Bank of Botswana’s inflation objective range of 3–6 percent.
A team from the International Monetary Fund (IMF) led by Enrique Gelbard visited Gaborone from May 1-16 for discussions on the 2017 Article IV Consultation with Botswana. The discussions covered recent developments and prospects and focused on policies to support continued economic stability and promote inclusive growth. At the end of the visit, Mr. Gelbard issued the following statement:
Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, the world’s leading diamond producing country by value. The Company is the 100% owner of 11 Prospecting Licenses covering 5,307 km2, including the Tsabong North, Jwaneng South, Malatswae and Mmadinare Projects.
Pangolin Diamonds Corp. updates shareholders on 2013 kimberlite diamond exploration activities in Botswana
About diamond mining in Botswana
Botswana is the largest diamond producing country in the world by value, supplying 21% of global rough diamond production. It is the location of the world’s two largest diamond mines, Jwaneng and Orapa, and four non-De Beers diamond mines – Gem, Firestone, Lucara and Mantle. Diamonds were first discovered in Botswana in 1959 and the first kimberlites were discovered in 1967. Since then, over 275 kimberlites have been discovered in the country. With a long and well-established Mining Code, Botswana is rated by the Fraser Institute as the best country in Africa for mining. The country has the highest sovereign credit rating in Africa. Since gaining independence in 1966, Botswana has been governed by the Botswana Democratic Party in a multi-party democracy.
* DOLV To Access an Exclusive Licence to Cut Timber and Export