THE recent recovery of one the largest diamond finds at the Kao Mine is testimony to a country endowed with wonders and natural resources. The 47.8 carats diamond could be a tip of the iceberg of what this country holds in its mountains for its people.
May 6, 2022
3 min read
Mining for diamonds and kotas
- There should be fair sharing of mining proceeds among stakeholders
- The kota is making waves of its own in Peka
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While we are happy that the proceeds of the stone are going to improve the bottom line of the company, it is vital that there is fair and equitable sharing of the profits between investors, employees and government.
Otherwise, it does not matter how much mining companies gain if their largesse cannot be translated to beneficiaries, especially host communities.
Possibly one of the largest pink diamonds to be mined in Lesotho, the discovery of the stone comes a few days ahead of the African Mining Indaba to be held in Cape Town from Monday.
The diamond find coincides with the annual event that has become instrumental to successful capitalisation and development of mining interests both in Lesotho and Africa.
We are not sure yet if Lesotho will be represented here but the Mining Indaba has succeeded for over 27 years.
Its organisers think that it has a unique and widening perspective of the African mining industry, bringing together visionaries and innovators from across the spectrum.
A few years ago, former Minister of Mining, Lebohang Thotanyana was a delegate amongst many other dignitaries and we would have loved to have our own officials and mining bosses attend the occasion to witness how mining houses are dedicated to supporting education, career development, sustainable development and other important causes in Africa.
We would have liked to have our young and aspiring Basotho mine owners and workers attend the event as it attracts not only senior officials but more junior and mid-tier professionals.
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They would be able to network with representatives from major mining companies, more investors and as always, the largest gathering of mining ministers in Africa.
Already, several high ranking officials from presidents to business magnates as seen in previous years, have booked their places as notifications hit our mails from time to time.
This is certainly a must attend meeting as it enhances business matchmaking and networking. You never know when the next person could be your next business partner.
Indeed, the business environment evolves and a meeting like this could only open doors for anyone who is hungry for success. It can break barriers and influence your outlook on business.
Elsewhere in the paper, we read an inspiring story about Limakatso Moshoeshoe.
Limakatso is obviously knowledgeable about the academic side of business and it reflects on her product offering.
Unlike the “Kota king”, who drives himself into an accident in the Outsurance television commercial, the “Kota queen” here is interested in customers asking for more.
Sometimes you do not need exorbitant amounts of money to start a business. All it takes is guts, a few buyers a winning attitude to tread where others fear. As in mining, you keep digging until you find your precious stone.