Botswana and De Beers have extended the current sales contract by another year due to logistical challenges presented by the COVID-19 pandemic.
The agreement was due to expire at the end of 2020, but was extended to the end of 2021 and now the end of 2022.
De Beers said the extension would give the company and Gaborone time to complete discussions regarding the contract renewal.
The diamond group said good progress was recorded this year.
De Beers brought the Diamond Trading Company (DTC) to Botswana under the current deal, which also saw paved the way for the country to receive 15% of the total Debswana output for sale by the state-owned Okavango Diamond Company.
The extension of the current sales agreement will further put a dent in President Mokgweetsi Masisi's plans to boost a young diamond polishing and cutting industry.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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