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Gaborone, Botswana – De Beers CEO Al Cook has expressed optimism regarding the imminent conclusion of negotiations with the Botswana government on a new diamond sales agreement. Following a meeting with newly elected President Duma Boko, Cook indicated that the deal could be finalized within weeks, rather than months or years.
The new agreement, which was initially agreed upon last year, will gradually increase Botswana’s share of diamonds from the Debswana joint venture to 50% over the next decade. Currently, Debswana, equally owned by Botswana and De Beers, sells 75% of its output to De Beers.
“We see negotiations concluding in days and weeks, not months and years,” Cook stated, as quoted in a video clip shared by the Botswana presidency.
While the previous administration under President Mokgweetsi Masisi actively promoted the benefits of the new deal, the official signing has yet to take place. With the change in leadership, the incoming government will now finalize the agreement, ensuring a smooth transition and continued collaboration between Botswana and De Beers.
