Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, and De Beers Group CEO have officially signed a landmark 10-year agreement that will govern the sale of diamonds from Debswana, the renewal of mining licenses, and key capital commitments for production and marketing. The deal marks a significant milestone in Botswana’s diamond industry, reinforcing the country’s position as a global leader in diamond production.
The signing ceremony was graced by President Duma Boko, who acknowledged the long and complex negotiations that led to the agreement. Speaking at the event, he remarked, “We have traveled a long path of negotiations, and when you negotiate, you know you have achieved a reasonable and fair outcome when all the parties come out crying and celebrating in equal measure.”
The new agreement cements the strategic partnership between Botswana and De Beers, ensuring that the country continues to benefit from its vast diamond resources. The deal includes provisions for mining license renewals, allowing Debswana—a joint venture between Botswana’s government and De Beers—to continue operating its world-class diamond mines. Additionally, capital commitments outlined in the agreement will support production expansion and enhanced marketing efforts, further boosting Botswana’s economy.
This renewed deal is expected to have a far-reaching impact on Botswana’s economy, particularly in job creation, beneficiation, and revenue generation. It also aligns with the government’s broader vision of increasing local participation in the diamond value chain, ensuring that more citizens benefit from the country’s natural wealth.
The signing of this agreement marks a new chapter in Botswana’s diamond industry, reflecting the government’s commitment to securing long-term value from its resources while maintaining a strong and mutually beneficial partnership with De Beers.
