Botswana, De Beers Reach Diamond Sales Agreement After Years of Negotiations

Gaborone, Botswana — The government of Botswana and South African diamond firm De Beers say they have reached a new, 10-year sales agreement following talks that had dragged on since 2019. Analysts say the diamond industry is sure to welcome the deal, as Botswana, after Russia, is the world’s second-largest producer of diamonds.

Under terms of the new agreement, Botswana’s government will be allowed to sell 30% of rough diamonds mined through a joint mining venture with De Beers.

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