Coronavirus: Damtshaa Mine "to Close for Three Years"

By John Jeffay / November 08, 2020 / www.idexonline.com / Article Link

(IDEX Online) - The Damtshaa mine, in Botswana, will reportedly close for three years as COVID-19 disruption and the consequent weak demand renders it unviable.The Debswana-operated deposit produces around 500,000-carats annually of lower-value diamonds - just 2.5 per cent of the country's total output.Joseph Tsimako, president of the Botswana Mine Workers Union told the Reuters news agency of the closure, to take effect next year, although Debswana has not so far made any comment.A plant at the nearby Orapa Mine, which processes ore from Damtshaa, will also close for an indefinite period, said Mr Tsimako, with the combined loss of up to 500 jobs.Damtshaa, which opened in 2003, closed for two years from 2015 to 2017 when rough demand slumped.  It is run by Debswana, a partnership between De Beers and the Botswana government."The mine produces lower quality diamonds which makes it expensive to dig during this period when the market is depressed," Mr Tsimako told Reuters.Pic shows processing plant at Orapa Mine

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok