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Market NewsNewsBotswana says no to export duty on diamonds - report

Botswana says no to export duty on diamonds - report

The Botswana government said that it is unlikely to introduce export duty on rough diamonds produced in Botswana, according to Mmegi.

The daily newspaper in Botswana quoted Permanent Secretary (PS) in the Ministry of Minerals, Energy and Water Resources, Dr Akolang Tombale, as saying yesterday that there would be no promulgation of regulations aimed at stimulating jewellery manufacturing and diamond cutting.

There was nobody at the Ministry of Minerals, Energy and Water Resources immediately available for comment. 
 
In South Africa, the government is imposing an export duty and introducing diamond industry legislation to improve local beneficiation.

"This business cannot be regulated. We can’t do it the way countries such as (South Africa) are doing. I don’t think we would achieve what they have achieved on export duty," Tombale said according to the daily paper.

"We are the largest producer and should derive maximum benefit from that. Small producers should be based on what we do," Tombale was quoted as saying.


 

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