Botswana and DeBeers Lock in Breakthrough Diamond Deal

The Government of Botswana and De Beers Group have successfully concluded negotiations for a new sales agreement governing Debswana’s rough diamond production. The deal also includes an extension of Debswana’s mining licences beyond 2029, in line with the Heads of Terms agreed on 30 September 2023.

Debswana, a 50:50 joint venture between GRB and De Beers, operates Botswana’s major diamond mines in Jwaneng, Orapa, Letlhakane, and Damtshaa. The agreement will take effect once new mining licences are issued and final governance approvals are secured. Until then, the existing terms remain in place.

This milestone reinforces a partnership spanning over 50 years, ensuring the responsible recovery, marketing and sale of diamonds. Both parties are committed to sustaining Botswana’s diamond industry, enhancing its economic benefits and supporting national development.