Deal De Beers and the Government of Botswana signed.
JOINT COMMUNIQUE FROM THE GOVERNMENT OF THE REPUBLIC OF BOTSWANA AND DE BEERS GROUP DEBSWANA SALES AGREEMENT & MINING LICENSES
The Government of the Republic of Botswana and De Beers Group are pleased to announce they have reached an agreement in principle on a new 10-year Sales Agreement for Debswana’s rough diamond production through to 2033, and new 25-year Debswana mining licenses through to 2054.
The transformational new agreements between Botswana and De Beers reflect the aspirations of the people of Botswana, propel both Botswana and De Beers forward, and underpin the future of their Debswana joint venture through long-term investment.
While the partners finalize the implementation of the formal Sales and Mining Agreements, an Interim Agreement will preserve the terms of the most recent Sales Agreement which expired on 30 June.
Botswana and De Beers Group have agreed to a new diamond sales deal in which the African country, the world’s No. 1 diamond producer by value, gradually increases the share of rough stones it gets from their joint venture Debswana over the next decade to 50%, the government and the mining company said on Saturday.
The Botswana government and De Beers said they had agreed on a 10-year sales deal for Debswana’s rough diamond production through to 2033, and on a 25-year Debswana mining licence valid until 2054.
Contact
Government of Republic of Botswana Press Office
Tel +267 3950901
jdipowe@gov.bw
Press office
Tel +44 (0) 20 7430 3434
pressoffice@debeersgroup.com
Botswana, where De Beers has been present for 50 years, is heavily reliant on diamonds, with two-thirds of its foreign currency receipts coming from mining, sales and ancillary activities linked to the precious stone.