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Diamond production accounts for 35 % of Botswanas GDP
By: Diamond World News Service
Oct 25 2005 12:00AM
Reference: 46  


The new Diamond law in Botswana proposed that the government will not place an export tax on rough diamonds similar to that of South Africa. South Africa is in the process of debating legislation that would impose a 15% export duty on rough diamonds.

“The government would also not likely introduce other regulations aimed at local diamond processing. This business cannot be regulated. We cant do it the way countries such as (South Africa) are doing. I dont think we would achieve what they have achieved on export duty," said Dr. Akolang Tombale, permanent secretary in Botswanas ministry of minerals, energy and water resources, responding to calls for Botswanas government to follow South Africas legislation to encourage beneficiation.

Diamond production accounts for 35 % of Botswanas gross domestic product (GDP) in comparison to South Africa where diamond production only accounts for 2 % of the countrys GDP, explained Dr.Tombale. Botswana currently produces more than 30 million carats from its four mines of Orapa, Letlhakane, Jwaneng, and Damtshaa. South Africa on the other hand is the worlds fourth largest diamond producer by value. The large contribution of the diamond mining sector to Botswanas GDP explains why the Botswana government is reluctant to interfere with the current system.

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