Botswana and De Beers Finalize Landmark Diamond Sales Agreement. The Government of Botswana and De Beers Group have successfully concluded negotiations on a new sales agreement for Debswana’s rough diamond production, ensuring continued collaboration in the country’s diamond sector. The agreement also extends Debswana’s mining licenses beyond 2029, reinforcing the longstanding partnership between the two entities.
Debswana, a 50:50 joint venture between Botswana and De Beers, operates major diamond mines, including Jwaneng, Orapa, Letlhakane, and Damtshaa. The finalization of this agreement aligns with the Heads of Terms reached in September 2023.
Both parties are now awaiting the issuance of new mining licenses and regulatory approvals before officially signing the agreements. Until then, the terms of the existing contracts will remain in effect.
With a partnership spanning over five decades, Botswana and De Beers remain committed to responsible diamond recovery and marketing. The agreement aims to sustain the global diamond industry while maximizing economic and social benefits for Botswana.
This latest deal reinforces Botswana’s position as a key player in the global diamond market, ensuring continued revenue generation, job creation, and economic growth for the country.
