Botswana changes its law to have first option to buy big or unusual diamonds
Gaborone — Botswana is amending its law to give the government the first option to buy diamonds that are unusually large or have other unusual features found in its mines, such as the world’s second-biggest 1,109 carat diamond discovered two years ago. The cornerstone of Botswana’s success has been one commodity, diamonds, coupled with a rigid adherence to prudent use of revenues, a rarity on a continent where natural riches are routinely squandered or stolen, or the cause of civil war. A draft bill amending the Precious and Semi-Precious Stones Act says any producer coming into possession of what it terms an "unusual" rough or uncut diamond shall notify the minister within 30 days after which government shall have the first option to buy the stone. The bill did not give a precise definition of "unusual". But an official told a local newspaper that it referred to stones that were unusually large, were particularly clear or had an unusual colour. Moses Tshetlhane, chief minerals offi...
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