Botswana: Industry Hails Overdue Botswana-De Beers Diamond Deal

Gaborone, Botswana — Experts have welcomed the signing of a long-delayed rough diamond sales agreement between Botswana and South African mining giant De Beers. Representatives of the Botswana government and De Beers put pen to paper Tuesday on a 10-year deal following six years of negotiations.

Under the new agreement, Botswana will keep 30% of rough diamonds mined from a joint venture between the government and De Beers, up from 25% under the previous deal.

In the following five years,…