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Okavango Diamond Chief Resigns

Marcus ter Haar had been managing director of the Botswana rough trader since 2017.
Nov 26, 2020 9:27 AM   By Avi Krawitz
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RAPAPORT... Marcus ter Haar stepped down last week as managing director of Okavango Diamond Company (ODC), the Botswana parastatal confirmed with Rapaport News.

Ter Haar joined ODC as deputy managing director when the company was established in 2013, and assumed the top position in August 2017. The company has appointed Lipalesa Makepe, its chief financial officer, as acting managing director while it seeks a permanent replacement.

Okavango, based in Gaborone, has access to 15% of Debswana’s run-of-mine production, with annual rough-diamond sales of about $500 million, according to its website. Sales have been limited this year amid restricted travel to Botswana, after the government declared a state of emergency in April due to the spread of Covid-19.

Prior to the pandemic, ter Haar was focused on showcasing the Okavango Blue — a 20-carat, fancy-deep-blue, VVS2-clarity polished diamond. The stone originated from rough mined at the Orapa deposit, which De Beers and the Botswana government own in partnership through their Debswana joint venture. Okavango viewed the stone as a strategic tool to promote Botswana’s diamond activity.

Image: Marcus ter Haar. (Okavango Diamond Company)
Tags: Avi Krawitz, De Beers, Debswana, diamonds, Marcus ter Haar, ODC, Okavango, Okavango Diamond Company
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