Clock Ticking for De Beers and Botswana

(idexonline.com) - Twenty per cent of the world’s diamonds are up for grabs. The clock is ticking on the De Beers rough sales agreement with the government of Botswana. And both sides are under increasing pressure, with less than a month before it's due to be renewed. The deal, currently covering almost 25m carats a year, dates back more than half a century and has underpinned Botswana's economic success, relative to many of its African neighbors. But nothing, even in the diamond world, lasts forever and the government of Botswana has, of late, made no secret of the fact that it wants a bigger share of the pie.