Botswana and De Beers have extended their current sales contract by another year, the diamond miner said on Friday, citing logistical challenges presented by the Covid-19 pandemic.
This is the second extension of the agreement for the sale of Debswana’s rough diamond production. The agreement was due to expire at the end of 2020, but was extended to the end of 2021 and now the end of 2022.
De Beers said the extension period would give the company and the Botswana government further time to complete discussions regarding the contract renewal. The miner reported that good progress had been made during 2021.
De Beers is currently responsible for selling 85% of Debswana’s diamonds.