Suashish Diamonds is reported planning to be closing its diamond jewellery manufacturing unit in Botswana, which has completed only eight months of operation, reports say. The company attributes this to the high raw material costs, specially gold and other precious metals, reports add.
The company had opened the plant to be the second Diamond Trading Company Botswana (DTCB) sightholder, following Shrenuj Botswana. The opening of the plant was also underlined a significant move in the beneficiation of precious stones locally.
The tenure for how long the plant will remain closed or the future of the workers is yet not reported.
The company also operates a diamond cutting and polishing plant in Botswana, which will continue to be operational, reports say.