By Washington Chikombingo in Cape Town, South Africa
The Government of Botswana and De Beers Group have successfully concluded negotiations on a new sales agreement for Debswana’s rough diamond production, as well as the extension of Debswana’s mining licenses beyond 2029.
The agreement follows the Heads of Terms agreed upon on September 30, 2023. The finalization marks a significant step in strengthening Botswana’s position in the global diamond industry and reinforcing its long-standing partnership with De Beers, which spans over five decades.
Debswana, a 50:50 joint venture between Botswana and De Beers, operates some of the world’s leading diamond mines, including Jwaneng, Orapa, Letlhakane, and Damtshaa.
With regulatory approvals pending, both parties are set to sign and implement the new agreements. Until then, the existing terms will remain in effect.
In a joint statement, the Botswana government and De Beers reaffirmed their commitment to responsible diamond mining, marketing, and sales. They emphasized the importance of ensuring the sustainability of the industry while maximizing the economic and social benefits for Botswana.
“The GRB and De Beers remain steadfast in their dedication to fostering a robust and sustainable diamond sector that positively impacts the nation’s economy and supports the welfare of its citizens,” the statement read.
Botswana is the world’s top diamond producer by value and has prioritized the effective management of its diamond resources to drive socio-economic growth. The government continues to reinvest diamond revenue into infrastructure, social programs, and economic development initiatives to enhance national prosperity.
De Beers, a global leader in diamond exploration and mining, reiterated its commitment to ethical mining practices and sustainable industry growth. The company continues to invest in traceability initiatives and technology to strengthen transparency in the diamond supply chain.
The agreement signals continued stability in Botswana’s diamond sector, reinforcing the country’s status as a premier investment destination in the global mining industry.
