Botswana is still interested in a partnership with De Beers and believes that ongoing negotiations for a new diamond sales agreement will be successful, according to a government official.
Botswana is in the process of negotiating a new sales agreement with Anglo American's 85%-owned De Beers, which will expire later this year.
President Mokgweetsi Masisi's warnings to withdraw from the talks if Botswana does not gain a larger share of rough diamonds produced by Debswana, their diamond mining joint venture, stoked speculation that Gaborone may collapse the partnership.
However, government spokesperson William Sentshebeng was quoted by Reuters as saying in a statement that negotiations between the government and De Beers "are ongoing, and we are confident that they will result in a deal that will benefit both parties."
He also said that discussions to renew De Beers' diamond mining rights, which are set to expire in 2029, are being held far in advance to allow for important investment decisions.
De Beers and Botswana intend to invest in capital-intensive development projects at their two major mines, Jwaneng and Orapa, to increase production.
Botswana's share of Debswana's output rose from 10% in 2011 to 25% in 2020.
Although Botswana has not publicly indicated how much of the new agreement it wants, it is thought to be as much as 50%.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Botswana is in the process of negotiating a new sales agreement with Anglo American's 85%-owned De Beers, which will expire later this year.
President Mokgweetsi Masisi's warnings to withdraw from the talks if Botswana does not gain a larger share of rough diamonds produced by Debswana, their diamond mining joint venture, stoked speculation that Gaborone may collapse the partnership.
However, government spokesperson William Sentshebeng was quoted by Reuters as saying in a statement that negotiations between the government and De Beers "are ongoing, and we are confident that they will result in a deal that will benefit both parties."
He also said that discussions to renew De Beers' diamond mining rights, which are set to expire in 2029, are being held far in advance to allow for important investment decisions.
De Beers and Botswana intend to invest in capital-intensive development projects at their two major mines, Jwaneng and Orapa, to increase production.
Botswana's share of Debswana's output rose from 10% in 2011 to 25% in 2020.
Although Botswana has not publicly indicated how much of the new agreement it wants, it is thought to be as much as 50%.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
