Debswana Seeks $6bn for Jwaneng Underground Project

Debswana slashes diamond output » TheVoiceBW

Debswana Diamond Company is temporarily pausing production at some of its mines, cutting output in response to prolonged weakness in the global diamond market, the mining giant announced last Friday. The global diamond market has experienced a downturn since the second half of 2023, which caused Debswana to cut production by 27% to 17.93-million carats in 2024. Debswana, which accounts for about 90% of Botswana’s diamond sales, reported a 46% dr…

Report: Debswana Eyes Capital Markets for $6B Jwaneng Expansion Funds

Debswana Diamond Company will tap global capital markets to finance the $6 billion underground expansion of its flagship Jwaneng mine.  Speaking at The Future of Mining Summit, managing director Andrew Motsomi said that the 50-50 joint venture between De Beers and the Botswana government was seeking an international credit rating raise aimed at keeping Jwaneng in production until 2054, according to Reuters. The open-pit portion of the mine is ex…

Botswana’s Debswana to approach capital markets to fund Jwaneng underground project – YourBotswana

17 June 2025 Botswana’s Debswana Diamond Company is looking to international capital markets to help fund its $6 billion Jwaneng…

Debswana seeks $6bn for Jwaneng underground project

BOTSWANA’S diamond giant Debswana is exploring international financing options for a $6bn underground mining project at Jwaneng, according to a report by Reuters. The move marked a shift in the diamond firm’s traditional self-funding approach, the newswire added. This comes as falling diamond revenues squeeze on Debswana’s ability to bankroll major capital investments. Debswana MD Andrew Motsomi unveiled the funding strategy at a mining conferen…