The government and De Beers reached an agreement on fresh 25-year mining licences for Debswana through 2054 as well as a new 10-year sales agreement for Debswana‘s production of rough diamonds through 2033. Debswana, a joint venture between the government of Botswana and the Anglo American division De Beers, sells 75% of its output to De Beers, with the remaining 25% going to the state-owned Okavango Diamond Co.
The Botswana government and the mining corporation announced on Friday that they had inked a new diamond sales agreement that would increase the African nation’s portion of the raw stones from their joint venture. The government and De Beers reached an agreement on fresh 25-year mining licences for Debswana through 2054 as well as a new 10-year sales agreement for Debswana‘s production of rough diamonds through 2033.