18-2-2020
Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current 10-year contract that expires in January 2021. The government wants to raise the volume of diamond cut and polished within the borders to create jobs, especially for young people.
An agreement is crucial for both parties. “We now want further to move into the value space; the bottom end of the business which involves your valuation, your pricing, cutting and polishing, marketing, selling, jewelry making,” Lefoko Moagi, the minister of mineral resources, green technology and energy security of the nation, said. Botswana supplies more than two-third of De Beer and owns 15-percent of the mining company, while 90 percent of the nation’s foreign earnings rely on the minerals.
De Beers remains “fully focused on continuing to be a dedicated partner to the people of Botswana, and to delivering on our commitments.”
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