Gem Diamonds (LON:GEMD) is hosting a ceremony today as it opens Botswana's first underground diamond mine - Ghagoo.
This is a significant step for the firm as it becomes operator of its second major producing diamond site after the world famous Letšeng mine in Lesotho.
The President of Botswana, Lieutenant General Seretse Khama Ian Khama will officially open Ghagoo.
Botswana is the world's leading diamond producer and home to some of the largest, most profitable diamond mines.
Ghaghoo is expected to emerge as part of a new generation of diamond mines in the country, the firm said.
Progress at the mine has been going well and on schedule, with 2,400 carats having already been recovered up to June 30 during plant commissioning, including one at 20 carat and two 10 carat diamonds.
The production build-up to 60 000 tonnes per month is still anticipated to be reached by December 2014, barring any further major water ingress.
The site is expected to employ 250 people once full Phase 1 production is achieved in 2015.
The first phase aims to confirm the grade, diamond prices and the recovery processes.
The group's chief executive Clifford Elphick said: "The potential of this ore body and the economic benefits to shareholders, employees and the Botswana nation will soon become evident. We believe that our steadfast approach and commitment to being an excellent corporate citizen, and working to ensure we operate in an environmentally and socially responsible manner is key in determining the long term success of the Ghaghoo mine."