Botswana has reached an eleventh-hour deal with diamond giant De Beers after months of tense negotiations that saw the continent's top producer threatening to cut ties with the company.
The agreement provides for a new 10-year agreement to sell the rough diamonds produced by Debswana -- a joint venture equally owned by the government and De Beers -- and a 25-year extension of its mining licenses.The previous 2011 sale agreement between the southern African country, one of the continent's richest, and the world's largest diamond company by value, was extended exceptionally until June 30, 2023, due to the coronavirus pandemic.
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