Government Of The Republic Of Botswana And De Beers Conclude Negotiations On Rough Diamond Sales Agreement
Botswana Government and De Beers Finalize New Diamond Sales Agreement
The Government of the Republic of Botswana (GRB) and De Beers Group have successfully concluded negotiations for a new sales agreement regarding Debswana’s rough diamond production and the extension of Debswana’s mining licenses beyond 2029. This follows the Heads of Terms agreement from September 30, 2023.
Debswana, a 50:50 joint venture between GRB and De Beers, operates major diamond mines in Botswana, including Jwaneng, Orapa, Letlhakane, and Damtshaa. Both parties anticipate signing the finalized agreements after regulatory approvals, with the existing terms remaining in place until then.
This agreement reinforces the 50-year partnership between Botswana and De Beers, ensuring responsible diamond recovery, marketing, and sales. It also underscores their shared commitment to sustainability and economic contributions to Botswana.
Botswana remains a leading diamond producer and investment hub due to its strong legal framework and strategic resource management. Revenue from diamond sales is reinvested into national growth, infrastructure, and social programs, fostering long-term prosperity.
De Beers, founded in 1888, is a global leader in diamond exploration, mining, marketing, and retail. The company prioritizes sustainability, ethical sourcing, and innovation through initiatives like Tracr and GemFair, aiming for long-term positive impacts on communities and the environment.
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