Orapa — Debswana Diamond Company chief operations officer, Mr Koolatotse Koolatotse has underscored the need to manage the cost of production at mines amid challenges in the global diamond market.

Speaking during the launch of Debswana's 2025-2029 Transformation Strategy in Orapa on Tuesday, Mr Koolatotse said the price of diamond continued to decline while the cost of mining continued to soar, hence the need to employ more efficient ways of production.

The new strategy, the COO said aimed at keeping Debswana in business, stabilise the company and survive the current market conditions.

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"The way it is now, the reality says we should be closing in the next three years if we do not do something," he said.

With the transformational strategy, Mr Koolatotse said Debswana aimed to cut operational costs from P9 billion to P6 billion by 2028.

The strategy also talks about diversification of businesses within the mines in future, something that the COO said would depend on the revenue that was generated by the company now.

Furthermore, Mr Koolatotse emphasised the need for a robust marketing strategy of the country's natural diamonds so that they remained more attractive.

He highlighted that the envisaged cost saving measures would not in any manner affect employee's welfare and there would be no cutting of salaries, but things such as Christmas parties and traveling among others.

Orapa, Letlhakane and Damtshaa Mines general manager, Mr Mogakolodi Maoketsa said with the current challenges in the global diamond market, change or a different approach in the way the company did things was inevitable.

He said the strategy was a long term investment that would see future generations continue benefiting from the economic value of diamonds.

BOPA