Another cutting and polishing company in Botswana, Diacore, has made employees redundant, cutting 50 positions, taking the total number of workers made jobless in the industry to around 1,000 in the past year.
At its peak, the industry employed about 3,700 workers. Companies that have recently retrenched include Moti Ganz (100), Leo Schachter (100), Eurostar (100), Shrenuj (90) Safdico (30), Zebra (50), Dalumni, Tiffany’s (50) while Teemane (400) and DMB closed shop, according to media reports.
The Diacore diamond polishing company, which has been operating in Botswana for seven years, employed about 130 people before trimming down the workforce to 80 employees.
With rough goods being too expensive to polish profitably, there is less work for cutting and polishing workers.
The De Beers July sight closed with an estimated value of $200 million with the amount of goods left on the table estimated to have exceeded 65 percent of the initial sight value.