Delay Hits De Beers Deal with Government

By John Jeffay / August 26, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Talks to renew a 10-year agreement between De Beers and the Botswana government have been delayed by COVID-19 travel restrictions.They jointly operate the Debswana Diamond Company, which controls all diamond mining in Botswana, on a 50/50 basis, and which supplies around a quarter of the world's rough from its Damtshaa, Jwaneng, Letlhakane and Orapa mines.The government says negotiations may not be completed before the end of the current agreement at the end of December, according to a Reuters news agency report.The deal is critical to both sides. Diamonds from Botswana represent 90 per cent of De Beers' sales, and its 10 annual Sights are held in the country's capital Gaborone.Diamonds provide Botswana with two-thirds of its foreign exchange and make up a fifth of its GDP.  Neither side has commented publicly on the delayed agreement. There is, however, speculation that the Botswana government may be pushing for a bigger share of the diamonds.Pic shows Jwaneng mine

Recent News

Is the gold market starting to turn 'irrationally exuberant'?

January 26, 2026 / www.canadianminingreport.com

Gold stocks explode up as equity markets languish

January 26, 2026 / www.canadianminingreport.com

Gold stocks outpace flat large caps

January 19, 2026 / www.canadianminingreport.com

TSXV gold producers' output growth for Q4/25 mixed

January 19, 2026 / www.canadianminingreport.com

Rising metals price volatility over past month

January 12, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok