The Botswana government and De Beers have announced the successful completion of negotiations for a new rough diamond sales agreement covering production from Debswana, their 50:50 joint venture. The agreement also extends Debswana‘s mining licenses beyond 2029. This follows previously agreed-upon Heads of Terms effective September 30th, 2023.
Debswana operates major diamond mines in Botswana, including Jwaneng, Orapa, Letlhakane, and Damtshaa. The new agreement will govern the selling of raw diamonds from these mines.
The arrangement is reliant on Botswana’s regulatory authorities issuing new mining licenses and receiving final governance clearances. Until the new agreements are finalized and signed, the current arrangements will remain in effect.
The Botswana government and De Beers confirmed their 50-year collaboration. They reaffirmed their commitment to responsible diamond mining, marketing, and sales, emphasizing the need for a sustainable global diamond sector. The collaboration seeks to maximize the economic and social benefits that diamond mining provides to Botswana. Both sides expressed their commitment to a robust diamond sector that benefits Botswana’s economy and its population.