Govt earns P3.3 billion in diamond royalties, taxes

source: Mmegi
Staff Writer

A newly released De Beers report states that the Government of Botswana earned P3.3 billion from taxes and royalties from Debswana mines last year, approximately 40 percent lower than previous levels.

Released on Wednesday, De Beers’ Report to Society (RtS) 2009 details the diamond giant’s contribution to governments, communities, the environment and its performance across several other non-financial indicators over the year. Before the recession, Botswana, Namibia and South Africa earned P8.4 billion in royalties, taxes and other charges on mines either wholly or 50 percent owned by De Beers. Generally, Debswana accounts for [continue reading]

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