De Beers, the largest diamond producer in the world is going ahead with its expansion plans for its Jwaneng, Botswana mine, planning to spend US $1 billion. According to reports, the investment will be used for “establishing a drilling platform to facilitate sampling of kimberlite pipes and for developing essential infrastructure to support the project development.” When completed, the mine is expected to produce 9 million carats per year. The mine has been in operations since 1982 and has produced an annual average of 11 million carats per year. De Beers is not only one of the largest companies in Africa, but also one of the oldest, owned by the Oppenheimer family. It is a private subsidiary of the Anglo American, the London quoted natural resources conglomerate.