*As G7 countries set September 2024 deadline for world diamonds certification to be done in Antwerp * G7 delegation visit Botswana but fails to answer specific questions * The move will affect the Country’s beneficiation progress.
Diamonds from Botswana and other African countries face a potential risk owing to a resolution of the G7 countries that mandates the certification of all global diamonds in Antwerp, Belgium.
This certification requirement applies after the diamonds have successfully undergone processing in their respective countries of mining and origin.
Without consulting the producing countries and in a move largely seen as another way of getting back to Russia, the powerful G7 has set September 2024 as deadline for all producing countries to have complied with the requirement.
This week at the invitation of the government, a G7 Diamond Technical Expert team visited Botswana to deliver the message.
But the Head of the G7 Diamond Technical Expert Team Brad Brooks- Rubin failed to justify the delegation’s position let alone satisfactorily answer basic questions from the local media.
He was asked what technical process is going to be used to certify the diamonds in Belgium, and what was it that they found wrong in the current tried and tested system used by Debswana.
Neither did Brooks-Rubin say who the designer of their envisaged technology was. Batswana and the rest of the world’s diamonds producing countries are unhappy with the G7 decision. Some see this move as G7 countries’ disregard for the programme of Global Liberalisation at a time when the world is criticising big economies for being slow to liberalise their economies.
Further, it is feared that bottlenecks that they are imposing in the diamond pipeline will in the final analysis stifle trade and free movement of diamonds
There is an ongoing debate that countries should decide whether they are in favour or against sanctions on rough diamonds from Russia, and ultimately the sanctions will be extended to polished diamonds.
The new development is that there should be only one channel where diamonds are valued, and polished and that is in Belgium.
The decision threatens to regress Botswana’s progress in terms of economic, and human resource development, all of which have been carried by Botswana’s ‘diamonds for development’ philosophy.
Botswana’s argument is that this envisaged process will affect her economy as it will be very costly to ship the diamonds to Belgium. Further Botswana argues that the technology that is going to be used to certify the diamonds is still to be developed while its designer remains a top secret.
This, Botswana contends, contrasts sharply with the current tried and tested Debswana system which is regularly audited by more than 13 different independent companies.
Diamond producing countries in particular, Botswana, fear that G7 countries certifying diamonds in Belgium will negatively impact the Botswana- DeBeers deal which sets Botswana on a higher pedestal of making more profits from proceeds of diamonds sold by DeBeers.
Botswana, which recently took a decision to beneficiate has a diamond export of 70 percent bringing the GPD to 30 percent.
The G7 move is simply another way of countering Botswana’s diamond beneficiation as well as stopping the country’s dream of turning Gaborone into one of the biggest global diamond cities.
The G7 delegation visited several mining and diamond processing areas including one of the world’s biggest and most efficient operations in Jwaneng mine to see what is taking place.
This happens at a time when they had already decided and set the September deadline for countries to comply with their requirement.
But looking at their body language and despite having been impressed by what they saw, they seemed unlikely to backtrack on their decision.
This certification requirement applies after the diamonds have successfully undergone processing in their respective countries of mining and origin.
Without consulting the producing countries and in a move largely seen as another way of getting back to Russia, the powerful G7 has set September 2024 as deadline for all producing countries to have complied with the requirement.
This week at the invitation of the government, a G7 Diamond Technical Expert team visited Botswana to deliver the message.
But the Head of the G7 Diamond Technical Expert Team Brad Brooks- Rubin failed to justify the delegation’s position let alone satisfactorily answer basic questions from the local media.
He was asked what technical process is going to be used to certify the diamonds in Belgium, and what was it that they found wrong in the current tried and tested system used by Debswana.
Neither did Brooks-Rubin say who the designer of their envisaged technology was. Batswana and the rest of the world’s diamonds producing countries are unhappy with the G7 decision. Some see this move as G7 countries’ disregard for the programme of Global Liberalisation at a time when the world is criticising big economies for being slow to liberalise their economies.
Further, it is feared that bottlenecks that they are imposing in the diamond pipeline will in the final analysis stifle trade and free movement of diamonds
There is an ongoing debate that countries should decide whether they are in favour or against sanctions on rough diamonds from Russia, and ultimately the sanctions will be extended to polished diamonds.
The new development is that there should be only one channel where diamonds are valued, and polished and that is in Belgium.
The decision threatens to regress Botswana’s progress in terms of economic, and human resource development, all of which have been carried by Botswana’s ‘diamonds for development’ philosophy.
Botswana’s argument is that this envisaged process will affect her economy as it will be very costly to ship the diamonds to Belgium. Further Botswana argues that the technology that is going to be used to certify the diamonds is still to be developed while its designer remains a top secret.
This, Botswana contends, contrasts sharply with the current tried and tested Debswana system which is regularly audited by more than 13 different independent companies.
Diamond producing countries in particular, Botswana, fear that G7 countries certifying diamonds in Belgium will negatively impact the Botswana- DeBeers deal which sets Botswana on a higher pedestal of making more profits from proceeds of diamonds sold by DeBeers.
Botswana, which recently took a decision to beneficiate has a diamond export of 70 percent bringing the GPD to 30 percent.
The G7 move is simply another way of countering Botswana’s diamond beneficiation as well as stopping the country’s dream of turning Gaborone into one of the biggest global diamond cities.
The G7 delegation visited several mining and diamond processing areas including one of the world’s biggest and most efficient operations in Jwaneng mine to see what is taking place.
This happens at a time when they had already decided and set the September deadline for countries to comply with their requirement.
But looking at their body language and despite having been impressed by what they saw, they seemed unlikely to backtrack on their decision.
