Botswana, Belgian Diamond Trader Strike Deal

Gaborone, Botswana — The government of Botswana said Monday it will buy a 24% stake in Belgian diamond company HB Antwerp. The deal comes amid uncertainty over Botswana’s long-standing sales agreement with industry giant De Beers.

Officially opening HB Antwerp’s cutting and polishing plant in Gaborone, President Mokgweetsi Masisi said Botswana must gain more from its diamond resources, for the “simple reason that the returns that come with having control to sell our diamonds with value addition,…