The government of Botswana is now entitled to take up 11 percent of Debswana's annual diamond output, a marginal increase from the 10 percent it was allocated last year under a new sales agreement with De Beers, a local newspaper reports.
Botswana would gradually increase its entitlement of Debswana’s annual output to 15 percent by 2016.
The southern African country had to date failed to buy its Debswana allocation as it was busy establishing the Okavango diamond trading company.
Okavango was set to commence operations next April.
"We have not exercised that allowance because there is currently no capacity to trade them," the Diamond Hub's Mmetla Masire was quoted as saying.
"Some are saying, 'take them and stockpile them' but we are buying these diamonds and that would be like holding money in stockpiles."
Mmegi also quoted some unnamed analysts as saying that it was wise for the government of Botswana to ease taking up its share as the current rough diamond market was depressed.
Meanwhile, Masire said Botswana would increase its buy to 12 percent next year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
