Gaborone: Debswana, a joint venture between De Beers and the Botswana government, has extended the lifespan of its mines in the southern African country to 2050.

Company managing director Balisi Bonyongo was quoted by APA as saying that the extension would solidify Botswana’s position as the world’s leading diamond producer by value.

He also said that Debswana would continue to support beneficiary efforts in the country and ensure Gaborone becomes an international hub for diamond aggregation, marketing, polishing and cutting and jewellery production.

De Beers moved its entire $6 billion-a-year “sales operation” from London to Gaborone last year. Debswana currently owns four kimberlite mines in Botswana. They are Jwaneng, Orapa, Letlhakane and Damtshaa.

De Beers’ production leaped 12 percent year-on-year to 16 million carats during the first half of the year thanks to improved performance at Debswana and the South African operations.