Botswana plans to complete new deal with De Beers by April

15.2.2020

The country wants more gems cut and polished within its borders, creating jobs and boosting the state coffers

14 February 2020 - 11:25 Matthew Hill De Beers’s headquarters on Charterhouse Street in London. Picture: BLOOMBERG/SIMON DAWSON Maputo — Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current 10-year deal that expires in January. The government wants to see more gems cut and polished within the borders of the world’s second-biggest diamond producer, creating jobs and boosting the state coffers, according to Lefoko Moagi, the minister of mineral resources, green technology and energy security. An agreement is crucial for both parties. Botswana accounts for more than two-thirds of De Beers’ production, while the country relies on the gems for 90% of its exports and wants to derive as much benefit as possible from its mineral wealth. “We are looking at April, not beyond, for all of this to happen and be successfully concluded,” Moagi said in Gaborone. “We now want further to move into the value space; the bottom end of the business, which involves your valuation, your pricing, cutting and polishing, marketing, selling, jewellery making.” De Beers remains “fully focused on continuing to be a dedicated partner to the people of Botswana, and to delivering on our commitments”, the unit of Anglo American said in an e-mailed response to questions. Botswana already owns 15% of De Beers and has a 50% stake in the Debswana mining company. As part of the existing agreement, De Beers moved diamond sales to Botswana from London, and the government secured the right to to sell 10% of Debswana’s production independently. The country’s exports of polished diamonds climbed as a percentage of total gem exports in 2017 and 2018, according to data from the central bank. Still, the $846m of polished gems exported in 2018 is dwarfed by the $5.1bn of rough stones. The country is one of Africa’s success stories, largely thanks to its diamonds and the prudent management of the resource. At independence from Britain in 1966, GDP per capita was $70, making it one of the world’s poorest nations. Just 12km of roads were paved, according to the World Bank. By 2018, GDP per capita had climbed to $8,259, higher even than its more developed neighbour, SA. Botswana now has 7,000km of paved roads. While the nation’s economy grew 3.5% in 2019 after averaging nearly 4% from 2016 to 2018, unemployment at 18% is still high, especially for youth, according to the African Development Bank. The government wants to boost employment in the diamond sector through a new deal with De Beers, said Moagi: “What more we need is to really see jobs coming through, we want to see young people participating in these jobs.” Bloomberg Read more: Business Day

Former President FW de Klerk on unbanning of political parties and Mandela's releaseWATCH | Prior to their walkout at SONA2020 the EFF made reference to an SABC News interview with the last apartheid president, FW De Klerk denying that apartheid was a crime against humanity. FULL INTERVIEW Listen to his context and address the actual topic brought up by the former president - come on people - let democracy thrive - the right to voice an opinion Apartheid murderer this_vid

EFF disrupts SONA over De Klerk then Gordhan | IOL NewsThe EFF on Thursday requested that former South African president FW De Klerk leave the National Assembly where President Cyril Ramaphosa was set to deliver his State of the Nation Address. SONA SONA2020 I will never vote for EFF, they simply acting childish Thandi Modise is strong to deal with this hooliganism. She can govern this country. TheMercurySA De Klerk was never a president of the RSA, he was rather a president of the APARTHEID WHITE MINORITY. Anyone who recognize De Klerk as president of the republic, also endorse apartheid.

WATCH: 'De Klerk must leave this house,' says Julius MalemaAs expected proceedings in parliament were brought to a screeching halt by the EFF ahead of President Cyril Ramaphosa's state of the nation address on Thursday evening. Chair Thandi with the EFF matching outfit i smell a rat Ja I support them on that he live the house De klerk deserves to be fed to pigs.

EFF disrupts Sona: De Klerk must leave, Gordhan must be firedEFF leader says FW de Klerk's presence is an insult to victims of political violence Our little bantustan having an embarresing evening. And the eff failed in that point of order..... Apartheid illegitimate president.

EFF ‘a fascist militia’- FW de Klerk Foundation'If you are wearing colour-coded uniforms, verbalise on the basis of race, break up meetings with bullying tactics... it’s really the same creed,' foundation chair Dave Steward said. 😂😂😂😂De Klerk wa painelwa.. A militia, they were elected into parliament. If your organization is formed to defend nonsense like Apartheid, then you have no chance against us Il Deuce takes offence to that comment

WATCH | Video of De Klerk saying genocide killed more people than apartheid resurfacesMalema's motion to have De Klerk removed from parliament was dismissed by National Assembly speaker, Thandi Modise True True. Because genocide always recite in black on black hate nje That's very nice coming from an apartheid beneficiary



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