Diamonds are for now: Botswana inks new deal with De Beers | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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 storied company. | News24_Business

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Not an option': Post Office's provisional liquidators blast state's business rescue plan | BusinessThe provisional liquidators overseeing the SA Post Office have come out against a plan put forward by the Department of Communications and Digital Technologies to place the struggling entity in business rescue. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Western Cape LPG crunch: Interim deal secured with trading giant Trafigura | BusinessSupply of liquefied petroleum gas (LPG) into the Western Cape has been secured for the next three months through an interim agreement with commodities trading giant Trafigura. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Two-pot pensions: Treasury clears up tax poser | BusinessAn example in a Treasury document has caused concern about the tax treatment of the so-called 'savings pot'. Treasury addressed these concerns, confirming that not accessing your savings before retirement will have big tax benefits.
Source: News24 - 🏆 4. / 80 Read more »