Global miner De Beers, with a significant presence in Africa, has refused to be drawn into the implications of the escalating Russia and Ukraine tensions as the West imposed a raft of economic restrictions on Moscow this week.
Russia’s currency, the Ruble, on Monday was said to have weakened by some 30 percent of its value.
The North Atlantic Treaty Organisation (NATO) has lent unwavering support to Ukraine from alleged Russian aggression while China has been watching from the sidelines.
Here at home in Botswana De Beers has had this to say: “While we have no mines in the region, we have been watching the reports of events unfolding in Ukraine and our hearts go out to all those affected by the crisis. We will monitor the situation closely as it continues to evolve rapidly,” said Kesego Okie who is the company’s External Communications Manager.
Botswana has, since independence, adopted a non-aligned position in foreign policy with regards to superpowers such as China, the United States and Russia electing to work with nations which provided her with support for development.
Botswana owns a half stake in De Beers Diamond Company through a partnership venture called Debswana.
The Minister of Minerals and Energy Lefoko Moagi could not be reached for comment by the time of going to press.
While De Beers is unwilling to share light as to how it is preparing for possible embargo on Russian goods including diamonds, experts believe Botswana could benefit from such an anticipated trade sanction.
Meanwhile after after a 2-year disruption by the Covid-19 pandemic, the De Beers said last week that its traditional sights will return to Botswana in March. When diamond sales slumped to record lows in 2020, De Beers broke away from tradition. The company made several concessions that included temporarily moving away sights from Gaborone due to Covid-19 travel restrictions and use of the flexible approach that extends the sights beyond the normal week-long duration to now two weeks.
