The Botswana government and De Beers have announced the successful conclusion of negotiations for a new rough diamond sales agreement covering production from Debswana, their 50:50 joint venture. The agreement also includes an extension of Debswana’s mining licenses beyond 2029. This follows previously agreed upon Heads of Terms from 30th September, 2023.
Debswana operates key diamond mines in Botswana, including Jwaneng, Orapa, Letlhakane, and Damtshaa. The new agreement will govern the sales of rough diamonds from these mines.
The agreement is contingent upon the issuance of new mining licenses by Botswana’s regulatory authorities and final governance approvals. Until the new agreements are finalised and signed, the terms of the current agreements will remain in effect.
Both the Botswana government and De Beers reaffirmed their long-standing partnership, which spans over 50 years. They reiterated their commitment to the responsible mining, marketing, and sale of diamonds, highlighting the importance of a sustainable global diamond industry. The partnership aims to maximise the economic and social benefits that diamond mining brings to Botswana. Both parties expressed their dedication to a thriving diamond sector that contributes positively to Botswana’s economy and the well-being of its citizens.