SOURCE OF BEAUTY
The
Diamonds Brilliance DISCOVER HOW THE NATURAL DIAMOND INDUSTRY HELPED TRANSFORM THE NOW THRIVING SOUTHERN AFRICAN COUNTRY. By Shelley Brown of Botswana
Starry night sky over the Okavango Delta in Botswana.
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Transformation is a word often associated with the formation of natural diamonds. Over the course of billions of years, carbon atoms slowly formed into brilliant gems deep within the earth. For Botswana, diamonds and transformation have another poignant connection: the ability of the natural diamond trade to transform the fortunes of a country. The History of Diamonds in Botswana Botswana, a landlocked country in Southern Africa, is both the birthplace of modern humans over 200,000 years ago and brilliant diamonds, formed billions of years before that. The discovery of the first significant deposit of diamonds in Botswana happened in 1967, just one year after the country gained independence from Britain. At the time, it was the third poorest country in the world, with minimal infrastructure. The country’s founding president, Sir Seretse Khama, made it his mission to build a government with an ambitious economic development program centered around the country’s resources.
Natural diamonds quickly became the cornerstone of Botswana’s economic development. All diamond mining in Botswana operates under a licensing agreement with the government in which 80 percent of diamond-related revenues are put back into the country’s economy. Today, Botswana is now the world’s number one diamond-producing country by value. The diamond industry accounts for 30 percent of the country’s GDP and 80 percent of its exports. The majority of the country’s diamond mines are managed by Debswana Diamond Company, a joint venture between the Botswana government and the global mining giant De Beers. Botswana mines have consistently recovered high-quality gems coveted worldwide. In 2013, the formation of Okavango Diamond Company (ODC) marked another pivotal moment in history. ODC is wholly owned by the Botswana government. As Botswana’s first state-owned diamond trading company, it has empowered the nation to responsibly manage its most prized natural resource, diversifying the market and bolstering its now thriving economy.
42 FREDRIC H. RUBEL MAGAZINE
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