GABORONE, Nov. 14 (Xinhua) -- Botswana's President Mokgweetsi Masisi officially opened the 2018 Diamond Conference here on Tuesday to deliberate on market trends and the industry's outlook.
The annual conference, which is in its 4th edition this year and is under the theme of "Leading Business for Social Capital" this year, brings together key diamond industry players from across the globe.
In his keynote address, Masisi said social capital speaks directly to the sustainable production and the growth of the communities in which companies operate.
"The phenomenon forces all players to honor their licenses to operate and create lasting legacies and goodwill in those communities. This can only be realized fully, if we collaborate and work together throughout the entire diamond pipeline," Masisi said.
"By doing so, we will ensure that these finite resources are mined safely and traded in accordance with international practice, in this case, the Kimberley Process Certification and System of Warranties," Masisi said.
Beneficiation remains a key objective of the country's economic diversification drive in the diamond sector, Masisi said.
"We need to move further up the pipeline to jewelry manufacturing and retail," he said. "We are committed to the ideal of bringing Botswana out of the middle-income trap and transforming her into a high-income country."
