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De Beers, Botswana Sales Agreement Extended

De Beers and the government of the Republic of Botswana have extended their existing agreement for the sales of Debswana’s rough diamond production by another year till June 2023.


In a statement, De Beers said: “Following further positive progress towards a new agreement being made in the first half of 2022, the two parties have agreed to the one-year extension to enable the finalisation of the ongoing discussions.”

Diamond mining in Botswana takes place through Debswana, which De Beers and the government own as a 50:50 joint venture.


The two parties have been negotiating a new deal since prior to the COVID pandemic. The last deal signed was in 2011, which called for De Beers to move its diamond sales and sorting to Gaborone, Botswana. This is the third time the deal has been extended.




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