The Jwaneng Mine’s Cut-8 extension project, the largest
single investment in the history of Botswana’s mining industry, was officially
launched Dec. 13
Cut-8 will extend the life of Jwaneng, considered the
world’s richest mine, to 2025, and could be worth $15 billion over the mine’s
life. Mine owner Debswana plans to invest a total of $3 billion over the next
The ceremony kicking off the project drew Ian Khama,
president of the Republic of Botswana, and De Beers chairman Nicky Oppenehimer.
Jwaneng is owned by Debswana, the
joint venture between De Beers and the Botswana government, and contributes
60 percent to 70 percent of Debswana’s total earnings.