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Botswana's Debswana to approach capital markets to fund Jwaneng underground project
Botswana's Debswana Diamond Company is looking to international capital markets to help fund its $6 billion Jwaneng underground project, a director said on Monday, as dwindling revenues have limited its ability to finance capital projects. Despite the downturn in the global diamond market since the second half of 2023, the company is pressing ahead with its plan to prolong the lifespan of its flagship Jwaneng Mine to 2054 by converting it into an underground operation, managing director Andrew Motsomi said at a mining conference in the capital Gaborone.
Botswana's Debswana Diamond Company is looking to international capital markets to help fund its $6 billion Jwaneng underground project, a director said on Monday, as dwindling revenues have limited its ability to finance capital projects. Despite the downturn in the global diamond market since the second half of 2023, the company is pressing ahead with its plan to prolong the lifespan of its flagship Jwaneng Mine to 2054 by converting it into an underground operation, managing director Andrew Motsomi said at a mining conference in the capital Gaborone.
