Botswana, De Beers Agree to Extend Diamond Deal Sales Agreement

, Botswana and the international diamond consortium De Beers, based in London, have put an end to uncertainty surrounding their long-standing partnership. In a joint statement issued late on June 30, Botswana and De Beers said the mining license will remain in effect for another 25 years while their sales agreement had been extended until 2034.

This comes after President Mokgweetsi Masisi challenged a 54-year alliance with the largest diamond producer in the world, De Beers, stating his nation would not relent in its quest for a better agreement. The previous agreement, which just expired, provided that De Beers would get the remaining 75% of the rough diamonds produced in Botswana as part of their partnership. In the renewed agreement,

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