Appointment of Shrenuj Botswana as a DTC Botswana Sightholder
Gaborone - July 15th 2009. DTC Botswana is pleased to announce that, following approval by the Board, it has appointed Shrenuj Botswana (Pty) Limited as a DTC Botswana Sightholder. This decision has been taken in order to support the sustainability of diamond manufacturing capacity within Botswana.
The unprecedented global economic downturn threatened the viability of an existing cutting and polishing factory in Gaborone, and Shrenuj Botswana’s intervention now means that up to 150 jobs will be saved, and the Shrenuj Botswana factory will now continue to manufacture diamonds to benefit the citizens and economy of Botswana.
Shrenuj Botswana (Pty) Limited is part of the Shrenuj India Group, which has been a Sightholder of the DTC since 1982. Consistent with all Sightholder appointments in Botswana, Shrenuj Botswana has successfully met the rigorous Sightholder eligibility criteria of DTC Botswana.
The new ownership will mean a change of focus for the factory, which will be working on a range of rough diamonds suitable for Shrenuj’s international downstream requirements for the key global consumer markets.
Brian McDonald, Managing Director of DTC Botswana said, ‘as we do with all our Sightholders, we will offer every assistance to ensure the success of this manufacturing facility, and hence its contribution to beneficiation and corporate responsibility in Botswana’.
DTC Botswana supply arrangements are non-transferrable, and this exceptional decision to supply Shrenuj Botswana has been taken by the Board in order to maintain the progress made to date in developing local beneficiation capabilities in Botswana.
Shrenuj Botswana has separately been granted an operating licence by the Government of Botswana.
For more information, please contact:
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