De Beers cautiously optimistic of a good year

source: Sunday Standard
by Edgar Tsimane
23-08-2010

De Beers says it is “cautiously optimistic” that the year will be good for Botswana’s diamond industry amid challenges ahead.

The company’s resident director and chief executive officer, Neo Moroka, announced before a stakeholder engagement breakfast Thursday that there were signs of recovery in the diamond market following a slump in diamond sales a little under two years ago.

The company says while it has posted successful first half year results, De Beers still conducts its business in “a challenging atmosphere and a fragile economic climate”.

De Beers says there are several forces that will shape the future of Botswana’s diamond industry in the foreseeable future. The other challenge, the company says, is how Botswana maintains and manages valuable resources. Moroka says the [continue reading]

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