DiamondBuzz
Direct Diamond Trade in Focus as Botswana President Applauds GJEPC’s White Paper
GJEPC’s policy roadmap gains international support as Botswana backs efforts to strengthen global diamond trade practices.
Hon’ble President of India, Smt. Droupadi Murmu, visited Botswana on a State Visit from 11 to 14 November 2025. The Gem and Jewellery Export Promotion Council (GJEPC), representing India’s diamond sector, joined the Indian delegation along with South Gujarat Chamber of Commerce and Industry (SGCCI) at the invitation of the Government of Botswana.
During the visit, GJEPC presented its White Paper titled ‘Strengthening India-Botswana Diamond Partnership’ to His Excellency President Duma Gideon Boko. The document was formally handed over by Jayanti Savaliya, Regional Chairman – Gujarat, GJEPC.
The discussions centred on creating a more direct and efficient diamond trade pathway between India and Botswana. At present, Botswana-origin rough diamonds reach India through multiple intermediary hubs, raising costs, restricting access for MSMEs, and adding unnecessary logistical steps. The White Paper outlines a practical route to build a direct trade channel that strengthens both economies.
President Boko went through the report during the meeting and expressed appreciation for its clarity and forward-looking approach. He noted that the study shows “India is thinking positively for Botswana”, and thanked GJEPC for offering a workable roadmap for building a direct link with India’s diamond industry.
Botswana-based mining companies described the paper as revealing, highlighting its insights on direct supply, MSME access, and future cooperation through the Special Notified Zones (SNZ) in Surat and Mumbai, as well as GJEPC’s Special Materials Distribution Organization (SMDO).
Following the meeting, President Boko invited the Indian delegation to the Presidential dinner hosted in honour of President Murmu. He later held a separate meeting with the delegation, joined by his full ministerial team, underscoring Botswana’s strong interest in advancing structured cooperation with India’s diamond sector.
During the visit, the Indian delegation also proposed positioning Gaborone and Surat as twin cities focused on diamond-sector collaboration.

Jayanti Savaliya, Regional Chairman – Gujarat, GJEPC, said, “It was a privilege to present this White Paper during President Murmu’s historic visit and share India’s perspective on building a direct and efficient diamond corridor between Botswana and Surat.”
Julius Tsheko, Regional Director, Botswana Investment and Trade Centre, New Delhi, said, “Our team was pleased with the high-level Indian delegation that visited Botswana during the first-ever State Visit of an Indian Head of State. President Boko believes India has the capability to invest in Botswana and shape its economic future. We look forward to working together to turn these opportunities into reality.”


Nikhil Madrasi, President, SGCCI, added, “Botswana and India share a common vision of sustainable growth and economic partnership. Beyond diamonds, there is strong potential for trade in textiles, engineering, technology and services. Strengthening ties with Botswana will support greater business exchanges, innovation and cultural understanding.”
The encouraging response to the White Paper, combined with the ministerial-level discussions and interest in the Gaborone–Surat twin city idea, signals fresh momentum for a stable, transparent and mutually supportive India–Botswana diamond trade framework.
DiamondBuzz
Lucara Secures $50 Million Equity Boost for Karowe Underground Expansion
Lundin Family Trusts back CAD 70 million private placement to fund 2026 development plans
Lucara Diamond Corp. has raised CAD 70 million (approximately $50.5 million) through a private placement of equity to support the advancement of its Karowe Underground Project (UGP) and strengthen its working capital position.
The company issued around 437.5 million shares at a price of CAD 0.16 per share, with the Lundin Family Trusts subscribing to the entire offering. The Lundin family controls Nemesia, Lucara’s largest shareholder, reinforcing its long-term commitment to the miner’s flagship Botswana operation.
Proceeds from the financing will be primarily used to progress the Karowe UGP, a key growth initiative aimed at extending the life and value of the mine, alongside general corporate and working capital requirements.

Commenting on the transaction, Lucara President and CEO William Lamb said the support from the Lundin Family Trusts highlights the strategic importance of the underground expansion. He added that the funding will position the company to accelerate critical project milestones planned for 2026.
The private placement is subject to customary regulatory approvals, including acceptance by the Toronto Stock Exchange, and does not require shareholder approval. Lucara expects the transaction to close by the end of the month.
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