The De Beers Group and the government of Botswana recently announced that they have reached an agreement to extend their sales agreement for Debswana, a joint venture focused on rough diamond production. Originally slated to end in June 2022, the agreement will now be extended for an additional year, until June 2023. Debswana, which operates under the partnership of De Beers and the Botswana government, currently allocates 75% of its output to De Beers for sale, while the remaining 25% is acquired by the state-owned Okavango Diamond Company.

This extension of the sales agreement is indicative of the enduring and robust partnership between De Beers and the Botswana government in the diamond industry. It underscores the strategic significance of the Debswana joint venture, which plays a pivotal role in the production and distribution of rough diamonds. By extending this agreement, both parties are reinforcing their commitment to sustaining and advancing their collaboration in the sector.

Links:

1. De Beers Group Official Website
2. Government of Botswana Official Website