Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News 【720p × UHD】

As The World News understands it, the current negotiations are at a knife's edge. De Beers recently moved its rough diamond aggregation from London back to Gaborone—a major concession. But Botswana is holding out for the right to sell up to 50% of its own stones independently.

"If we don't achieve a win-win situation, each party will have to pack its bags and go," Masisi famously declared to a crowd in his home village. Gaborone's Key Grievances: As The World News understands it, the current

In mid-2023, Botswana and De Beers finally reached a new agreement in principle, which includes a fresh 10-year sales contract for Debswana's rough diamond production and a new 25-year mining license for Debswana. The core pillars of the new deal include: "If we don't achieve a win-win situation, each

Historically celebrated as the world's most successful public-private partnership, the alliance between the Republic of Botswana and De Beers Group has transformed Botswana from one of the poorest nations in 1966 into a stable, upper-middle-income economy. However, as global market dynamics shift, many are asking whether the nation is extracting maximum value from its natural wealth or bearing an unfair share of the industry's rising risks. However, as global market dynamics shift, many are

Historically, the joint venture between the government and De Beers, known as Debswana , allocated 75% of all rough diamonds directly to De Beers. This arrangement left Botswana's state-owned Okavango Diamond Company (ODC) with just a 25% share to sell independently. Critics argued that this system starved the local economy of job creation and technical expertise, effectively shortchanging the world’s largest producer of rough diamonds by value.