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De Beers buys time to close diamond deal with Botswana

Dec 15, 2020

Source: https://www.mining.com/de-beers-buys-time-to-close-diamond-deal-with-botswana/

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Debswana is a major contributor to the national economy of Botswana, making up a fifth of the country’s GDP. (Image courtesy of Debswana.)

De Beers, the world’s largest diamond producer by value, has extended its 10-year sales agreement with Botswana, where it sells diamonds from the world’s richest mines, for another year to give the parties enough time to reach a new deal.

The decade-long contract was due to expire by the end of this month, but both De Beers and the government of Botswana said logistical challenges caused by covid-19 meant they needed more time to negotiate a fresh sales agreement.

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Debswana is a major contributor to the national economy of Botswana, making up a fifth of the country’s GDP. (Image courtesy of Debswana.)

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