DTC Botswana names 16 sightholders

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DTC Botswana names 16 sightholders

November 14, 2007

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Botswana—Diamond Trading Co. Botswana (DTC Botswana) announced today that all 16 of the country's license holders meet the supply criteria and will become DTC Botswana sightholders.

The sightholder contract extends for a three-year period, from 2008-2011.

Kago Moshashane, acting permanent secretary of Botswana's Ministry of Minerals, Energy and Water Resources and a director of DTC Botswana, projects that $360 million worth of rough diamonds will be sold by DTC Botswana to sightholders in 2008.

He expects that number to grow to $550 million by 2009.

In addition, officials believe the solidification of the sightholders will create more than 3,000 jobs in Botswana.

"Today is a momentous day for Botswana and its citizens," Moshashane said. "The purpose of DTC Botswana is to maximize the long-term value that Botswana derives from diamonds. Our role in delivering this objective is through DTC Botswana's sorting, valuing, selling and marketing activities."

The successful applicants for diamond-supply contracts from DTC Botswana are:

1. Ascot Diamonds
2. Dalumi Botswana
3. DDA of Botswana
4. Diamond Manufacturing Botswana
5. Eurostar Botswana
6. H and A Cutting Works Botswana
7. Lazare Kaplan Botswana
8. Leo Schachter Botswana
9. Moti Ganz Botswana
10. Pluczenik Diamond Co.
11. Rand Precision Cut Diamonds
12. Safdico Botswana
13. Suashish Diamonds Botswana
14. Teemane Manufacturing Co.
15. Yerushalmi Brothers Diamonds Botswana
16. Zebra Diamonds (IGC Group)

DTC Botswana, a fifty-fifty joint venture between Botswana and the De Beers Group, was created in May 2006 in an effort to diversify the country's economy. Over the past 25 years, the country's has had one of the world's fastest-growing economies, with diamond revenue constituting about 33 percent of the country's gross domestic product.

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