Finestar Diamonds opens manufacturing factory

Finestar is a sightholder of De Beers specialising in manufacturing of polished diamonds ranging from one to plus-10 carats in size of all colours and clarities. The factory in Block 3 will cut, polish and manufacture jewellery from the rough diamonds Finestar buys from De Beers under its status as a sightholder.

Finestar Diamonds Jewellery currently employs almost 20 Botswana staff, with prospects of employing 70 more in future.

Speaking at the launch, Mineral Resources, Green Technology and Energy Security minister, Lefoko Moagi stressed the importance of diamond beneficiation initiatives such as the opening of Finestar.

“Government has dedicated itself to drive diamond beneficiation as one of its key areas of focus as part of its diversification strategy in order to create employment opportunities for citizens and develop value through sustainable industrialisation,” he said.

Moagi said jewellery manufacturing remains an underdeveloped sector in Botswana and commended Finestar for opening its factory, saying it presented an opportunity to cultivate a highly trained local workforce in the diamond industry.

For his part, De Beers Group CEO Bruce Cleaver said the diamond industry in Botswana continues to develop adding that in not much more than a decade, Botswana has not only become a leading rough diamond sales location, but also a significant cutting and polishing sector responsible for manufacturing a substantial share of the world’s gem quality production.

“Botswana is one of the few countries worldwide that have all the stages of the diamond value chain within the country and this inauguration presents a great foundation of continued progress to nurture and grow the local workforce,” he said.

Through continuously investing in the best technology and developing an expert workforce, Finestar says it is determined to establish a seasoned product design team and produce high-quality products.

Courtesy: MMEGI