The most diamonds are mined in Botswana than any other country on the planet. However, given the current state of innovation on a global scale, President Masisi has urged the nations that produce diamonds to make investments in technology in order to maintain the viability of the business.
The President of Botswana, Dr. Mokgweetsi Masisi, has made it clear that it is necessary for countries that produce diamonds to integrate technology into the industry in order to promote its long-term viability. At the FACETS Conference, which was held in Gaborone, Botswana, President Masisi delivered a speech. Botswana is the country that produces the most valuable diamonds in the world.
The Antwerp World Diamond Centre (AWDC) started the FACETS Conference in 2022 in order to provide a platform for inclusive discourse amongst industry actors from across the value chain in order to address issues and opportunities that are likely to drive the industry in the future. Specifically, the conference’s focus was on the facet industry. During the course of his talk, Masisi recommended that countries that produce diamonds put money into research and development projects that aim to reduce the negative effects that diamond mining has on the surrounding ecosystem.
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The President’s comments
“From drone-assisted surveying to advanced water management systems, these innovations are not just investments; they are our commitment to preserving the natural world for generations to come,” he said.
In addition, in order to address the issue of diamonds mined in areas of conflict making their way into markets, President Masisi has emphasized the importance of utilizing blockchain technology for the tracking of diamonds. “Blockchain technology, with its immutable ledger, can provide consumers with the guarantee that their diamonds have been ethically sourced,” he added. “Emerging technologies, such as nanotechnology, [also] hold promise in diamond processing. Nanodiamonds, tiny diamond particles, have a range of applications from medical imaging to quantum computing.”
At the beginning of this year, the administration of President Masisi announced plans to purchase a 24 percent stake in the diamond producer HB Antwerp, which has its headquarters in Belgium and promotes itself as combining “Antwerp’s savoir-faire with the power of technology to create a whole new ecosystem for the natural diamond trade.” A blockchain-based diamond tracker, a stereo microscope for diamond observation, and an automated diamond cleaning robot are some of the company’s proprietary inventions.
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About Botswana’s Diamond company
Botswana Diamonds PLC is a diamond exploration and project development business that holds exploration licenses in Botswana and South Africa. The company’s primary focus is on the discovery of new diamond deposits. The knowledgeable staff of this organization has a history of making important discoveries for the company. Both the Botswana Stock Exchange and the Alternative Investment Market (AIM) are home to Botswana Diamonds’ listings.
The business was initially established on June 23, 1969, and given the name De Beers Botswana Mining Company (Proprietary) Limited at the time of its incorporation. On March 25, 1992, the previous name of the corporation was replaced with that of Debswana Diamond corporation (Proprietary) Limited.
Each party owns fifty percent of the business due to the fact that it was established as a partnership between the government of Botswana and the diamond corporation De Beers of South Africa.
Nearly 24.5 million carats’ worth of diamonds were extracted from the ground in Botswana in the year 2022.