Botswana’s government secured a pivotal diamond sales agreement with De Beers after seven years of negotiations. This new contract will provide the government with a higher share of sales through the Debswana venture, reinforcing Botswana’s status as a leading diamond producer while contributing significantly to its economy.
The government of Botswana has finalized a significant diamond sales agreement with De Beers after protracted negotiations lasting seven years. This deal, revealed on Tuesday, facilitates an increasing share of diamond sales for Botswana through Debswana, a joint venture with De Beers, which is part of the Anglo American group. Botswana, characterized as an arid and sparsely populated nation in southern Africa, is a leading diamond producer, holding the position of the top diamond supplier by value and second by volume, following Russia.
This new agreement marks a crucial advancement for Botswana, enhancing its economic framework reliant on diamond exports, which constitute approximately 80% of the country’s export revenue and a quarter of its gross domestic product. Strengthening the partnership with De Beers positions Botswana for greater economic stability and growth in the diamond sector over the next decade.
Original Source: www.wdrb.com
