Botswana and De Beers have reached a new diamond sales agreement for Debswana, extending mining licenses beyond 2029. This agreement follows earlier Heads of Terms from September 2023 and focuses on sustainable mining practices, ensuring long-term socio-economic benefits. Both parties reaffirm their commitment to a responsible diamond sector in Botswana.
The Botswana government and De Beers have finalized a new agreement regarding the sale of rough diamonds from their joint venture, Debswana, which is equally owned by both parties. This new accord also prolongs the mining licenses of Debswana beyond the year 2029, building on previous terms established on September 30, 2023. Debswana is responsible for operating several significant diamond mines within Botswana, including Jwaneng, Orapa, Letlhakane, and Damtshaa.
This agreement is critical as it dictates the sales operations of rough diamonds extracted from Debswana’s mines. The finalization of this agreement is contingent upon new mining licenses from Botswana’s regulatory bodies and must receive final governance approvals. Until these agreements are executed, existing terms will remain applicable. The partnership between the Botswana government and De Beers spans over five decades and plays a crucial role in the diamond sector’s sustainability and economic impact.
The agreement reached between Botswana and De Beers reinforces their long-standing partnership, ensuring the sustainable future of diamond mining in Botswana. Both parties are committed to enhancing the socio-economic benefits stemming from diamond extraction. The new arrangement promises stability and growth in the diamond industry, adhering to responsible mining practices.
Original Source: gjepc.org
