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De Beers and Botswana Government Ink a 10-year Diamond Sales Agreement October 06, 2023 (0 comments)

Gaborone, Botswana--De Beers, an Anglo American Plc unit, and the Botswana government have fortified their partnership with a new sales and mining agreement concerning their joint venture, Debswana Diamond Company. 

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This collaborative effort underscores a shared vision towards harnessing Botswana’s diamond resources through 2054.

According to a Mining report, the freshly-inked agreement encapsulates a 10-year sales deal to oversee the sale of rough diamonds from Debswana's mines through 2033. 

This sales pact reflects a shared long-term vision and a solid commitment to foster the growth and sustainability of Botswana's diamond industry.

The report noted that besides the sales agreement, a noteworthy aspect of the deal is the 25-year extension of mining licenses granted to the Debswana Diamond Company, extending the venture's mining operations to 2054.

The new terms elucidated in the agreement shed light on commercial and operational dimensions, providing a more precise roadmap for the venture’s economic and supply-chain arrangements. 

The details, as outlined on June 30, fortify the operational backbone of the Debswana venture, although the specifics of the economic arrangements remain undisclosed.

The report noted that this deal is a testament to the solid partnership between De Beers and the Botswana government, aimed at harnessing the rich diamond resources of Botswana while contributing significantly to the nation's economic stability and growth.

Learn more in the entire Mining report.