Botswana is still insisting on its demand to sell a bigger share of the diamonds produced by Debswana, which is its joint venture with De Beers.
Reuters quoted President Mokgweetsi Masisi as saying that Botswana had denied itself the opportunity to sell its diamonds for a long time.
“Besides the fact that the diamonds are ours, it does not make sense for us to continue to relegate ourselves to participating in the rough space only," Masisi said as talks to renew a sales deal that expires in June continue.
“So, it is only logical that we want more and we are going to get more. But through negotiation.”
He did not specify the size of the share the country is pushing to get.
Currently, Debswana sells three-quarters of its production to De Beers, while the balance is sold to the state-owned Okavango Diamond Company (ODC).
Meanwhile, De Beers chief executive Al Cook said after that meeting with Masisi in Gaborone last Friday that they had a "constructive discussion" with the president.
“It is very clear that front and foremost in the president's mind is the interest of the Botswana people. We as De Beers want to play our role in a strong strategic partnership,” he was quoted as saying.
“I am very confident that this partnership will go forward in a very good way.”
De Beers said that Gaborone receives more than 80% of Debswana's returns, including taxes and royalties.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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