Botswana and De Beers: Sealing the Diamond Deal

Botswana's government finalized a diamond sales agreement with De Beers, a subsidiary of Anglo American. Initial negotiations began in 2018, and though terms were provisionally agreed upon in 2023, a formal agreement was not signed until President Duma Boko prioritized it after taking office in October.

In a pivotal move, Botswana's government signed a long-awaited diamond sales agreement with De Beers, a subsidiary of Anglo American, on Tuesday. The deal, crucial to the country's economy, had been in negotiation since 2018.

In 2023, under Botswana's previous leadership, discussions led to provisional terms. However, the official agreement remained unsigned until a change in administration.

Newly elected President Duma Boko, who assumed office last October, made finalizing the deal a primary objective, ensuring the agreement was promptly signed, marking a significant step for Botswana's diamond trade.

(With inputs from agencies.)