The government of Botswana and De Beers will conduct an official signing ceremony of a new sales agreement for Debswana’s rough diamond production.
The ceremony will take place on 25 February in the capital Gaborone.
“This landmark event will mark a significant milestone in the global diamond industry, reinforcing Botswana’s leadership in sustainable diamond development and De Beers Group’s commitment to ethical and responsible sourcing,” they said in a joint statement.
The partners recently announced the conclusion of negotiations focused on establishing the new sales agreement and extending Debswana’s mining licences beyond 2029.
Debswana, a 50:50 joint venture between De Beers and the government of Botswana, operates several leading diamond mines in Botswana: Jwaneng, Orapa, Letlhakane, and Damtshaa.
The agreements were in alignment with the heads of terms agreed on September 30, 2023.
Botswana’s previous administration had negotiated for an increase in the share of Debswana's supply sold via Okavango Diamond Company (ODC) to 50% by 2033 from the current 25%
It also asked for P10 billion ($720 million) in development funding.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
