- Tsaone Segaetsho
The Government of the Republic of Botswana (GRB) and De Beers Group on Monday announced that they have successfully concluded negotiations to establish a new sales agreement for Debswana’s rough diamond production.
In a joint statement issued on Monday, the two parties highlited that the agreement includes an extension of Debswana’s mining licences beyond 2029, which follows the Heads of Terms agreed upon on 30 September 2023, reinforcing the long-standing partnership between Botswana and De Beers.
Under this arrangement, Debswana, a 50:50 joint venture between the GRB and De Beers, will continue to operate some of the world’s most renowned diamond mines, including Jwaneng, Orapa, Letlhakane, and Damtshaa. These mines are central to Botswana’s economic framework, contributing significantly to national revenue and job creation.
The issuance of new mining licences by the relevant Botswana regulatory authorities, along with final governance approvals, will pave the way for the formal signing and execution of the new agreements. Until these agreements are in place, the current contractual terms will remain in effect, ensuring continuity in operations and diamond sales.
In the statement, the GRB and De Beers reaffirmed their commitment to their more than 50-year collaboration, which has played a crucial role in the sustainable recovery, marketing, and sale of diamonds. This partnership is instrumental in maintaining Botswana’s position as a leading diamond-producing nation while fostering economic growth and societal development.
Both parties remain dedicated to strengthening Botswana’s diamond sector, ensuring that it continues to drive economic prosperity and contribute to the well-being of its citizens. The conclusion of these negotiations signals a new chapter in Botswana’s diamond industry, promising stability, sustainability, and continued mutual benefits for the country and its key diamond sector partner, De Beers.
