Eurostar Diamond Traders N.V.

Appearing in Antwerp Facets, 24 February 2010 

One of the most significant trends among diamond producing states in southern African states in recent years has been that of beneficiation. After scores of years where diamonds from South Africa, Botswana, Namibia and Angola were simply exported as rough, those countries have striven to ensure that that at least part of their gem output will be exported as polished goods...  The Botswana government and De Beers jointly own the national mining company, Debswana.
 
The sides agreed to establish a sorting plant in the Botswana capital of Gaborone at a cost to the diamond mining giant of $83 million where aggregation of its goods takes place. Botswana DTC, which the sides created in 2006, is responsible for the sorting of goods rather than having them sent to the DTC's main global office in London. The move aimed to create more than 3,000 jobs.

Of the DTC Botswana sightholders, Eurostar Botswana is one of the leading diamond manufacturing companies in the country, if not the largest. Employing 10,000 people worldwide, Antwerp-based Eurostar employs 339 workers in Gaborone, representing about 20-25 percent of the total diamond industry workforce in Botswana. Just two percent of the employees are not Botswanan. Kaushik Mehta, chairman and CEO of Eurostar Diamond Traders, said its Botswana plant was the leading diamond cutting and polishing facility in Botswana and at full capacity, would certainly become the largest diamond factory in Africa.
 
“As Eurostar Botswana enters its sixth year of operation, it is clear that the Botswana government’s beneficiation strategy is working. Last year, Eurostar Botswana’s productivity levels approached 65 percent of the productivity levels of our flagship China factory, which is a quite remarkable achievement, especially since we have been in China for over 15 years.
 
"Having made a total investment of $8 million in Eurostar Botswana, we remain committed as ever to playing a key role in developing the diamond industry in Botswana. Moreover, Eurostar Botswana now has a dedicated team in Botswana for polishing triple excellent hearts & arrows, and we will start up a production team for princess cuts, as well. If market conditions and rough diamond supply both continue to improve, Eurostar Botswana is capable of increasing its workforce to 600 professionals by the end of 2010.”  Continue reading...