The Jwaneng diamond mine is the world’s richest diamond mine by value. Located in the Kalahari Desert in Botswana’s Naledi River Valley, the mine – the third to have been launched by Debswana, the joint diamond mining venture between De Beers and the Botswana government – was first opened in 1982.
The central pit at Jwaneng, which yields 80% profits for its owners and accounts from approximately half of Botswana’s income, measures 1.6 kilometers wide, 2.5 kilometers long and 350 meters deep.
Jwaneng’s production life was originally expected to run out in 2017, but at the end of 2010 Debswana announced that it would begin work on Cut 8 – a $3.63 billion project expected to extend the mine’s diamond production for an additional seven years and some 102 million carats. The mine expansion is also expected to provide employment for an additional 1,700 workers.
Bloomberg called Cut 8 the largest capital expenditure in the history of southern Africa. When Botswana President Ian Khama inaugurated the project, he noted in his speech that the endeavor “showcased Botswana’s economic capacity and potential.”
Khama’s words echoed those of former De Beers chairman Harry Oppenheimer, who presided over the mine’s opening and said he hoped that when future generations of Botswana residents looked at Jwaneng, they wouldn’t see merely a large hole in the ground, but also universities, hospitals, and other institutions.
In April 2011, the International Diamond Manufacturers Association held its Presidents’ Meeting in Botswana for the first time. The meeting concluded with a visit to the Jwaneng diamond mine, which allowed conference participants to see one of the world’s leading sources of rough diamonds first-hand.
