Precious and SemiPrecious Stones ( Protection) Act being revised
The amendment of the Precious and SemiPrecious Stones ( Protection) Act will ensure that diamonds mined in Botswana are beneficiated, including being sorted, valued, processed, sold, bought, marketed or otherwise dealt with in Botswana. Stiffer penalties have also been introduced to enhance the protection and integrity of the Botswana diamond industry and to curb the illicit trade in diamonds.
Minister of Mineral Resources, Green Technology and Energy Security, Lefoko Moagi, who was presenting the amendment Bill in Parliament, said the Bill intends to extend the exceptions to prohibition on unlawful dealings in and possession of rough and uncut precious stones; and to allow a licensed precious stone dealer to also sort or value precious stones, carats.
Under the Act a person shall not import or export a rough or uncut precious stone unless such precious stone is inspected by an authorised officer. According to the minister, any person who contravenes the provision shall be guilty of an offence and liable to a fine not exceeding P1,000,000, or in default of payment to imprisonment for a term not exceeding five years, and for a second or subsequent offence, to imprisonment for a term not exceeding 10 years. “A Minister shall not issue a precious stones dealer’s license to a person who is under the age of 18 years, who is a shareholder or a director of a company which has contravened this Act or any other law”’.
According to the amendment, a producer who comes into possession of a rough or uncut precious stone of unusual geological or gemological nature mined in Botswana shall notify the Minister of his possession of the rough or uncut precious stone within 30 days of such possession.
The Government shall have the first option to buy a rough or uncut precious stone, reads the amendment. Moagi who is also MP for Ramotswa stated that the price to be paid by the Government for a rough or uncut precious stone offered for sale by a producer shall be as agreed between the parties in accordance with the current market price of the rough or uncut precious stone.