Debswana, a diamond mining operation owned jointly by the government of Botswana and De Beers, has announced mine closures as a result of falling demand.
Debswana has four diamond mines, all of which will close tomorrow, 25 February. Two are scheduled to reopen on 14 April, but the other two will remain closed for the rest of the year.
The 580 employees affected by the closure of the Damtshaa mine and Opara No. 2 Plant will be redeployed within the company or offered voluntary early retirement and other incentives.
"These actions are being taken to mitigate the effects of the global downturn by reducing production during 2009 to align with demand, conserving cash for the company, protecting employment and maintaining readiness for an eventual upturn in the market," said De Beers.
