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Debswana Launches 2025-2029 Strategy to Cut Mining Costs
Debswana Diamond Company unveiled its 2025-2029 Transformation Strategy at a launch event in Orapa. The plan targets a reduction in operational costs from P9 billion to P6 billion by 2028 amid falling diamond prices. Company officials said the measures are needed to avoid closure within three years.
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Debswana Diamond Company launched its 2025-2029 Transformation Strategy in Orapa on Tuesday to address declining diamond prices and rising production costs. AllAfrica reported that chief operations officer Koolatotse Koolatotse said prices continue to fall while mining costs rise, requiring more efficient production methods.
He stated that without changes the company would close within three years.
The strategy seeks to lower operational costs from P9 billion to P6 billion by 2028. It also includes future business diversification within the mines, which Koolatotse said would depend on revenue generated in the coming years. Koolatotse called for a stronger marketing approach to keep Botswana's natural diamonds competitive.
He added that cost reductions would spare employee salaries and welfare but would affect items such as Christmas parties and travel. Orapa, Letlhakane and Damtshaa Mines general manager Mogakolodi Maoketsa said a different operational approach is required given global diamond market conditions.
He described the strategy as a long-term investment to preserve diamond revenues for future generations.
