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De Beers signs ten-year sales deal for Botswana diamonds

2nd October 2023

By: Bloomberg

  

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Anglo American unit De Beers and Botswana’s government signed a deal covering the main aspects of a new sales and mining agreement for their Debswana diamond venture in the African nation.

The pact covers a new ten-year sales deal for Debswana’s rough diamond production through to 2033, along with a 25-year extension to the Debswana mining licences through to 2054, De Beers and the Botswana government said in a joint statement on Sunday.

The terms “provide further detail and clarity to the commercial and operational aspects of the agreement in principle between the two partners” announced on June 30, they said. Among them are stipulations for the apportionment of Debswana supply and other economic arrangements, they said, without giving further details.

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Edited by Bloomberg

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