Botswana Government and De Beers conclude negotiations on Rough Diamond sales agreement

The Government of the Republic of Botswana and De Beers Group have successfully concluded negotiations focused on establishing a new sales agreement for Debswana’s rough diamond production and extending Debswana’s mining licences beyond 2029. This development is in alignment with the Heads of Terms agreed on September 30, 2023.

Debswana, a 50:50 joint venture between the GRB and De Beers, operates several leading diamond mines in Botswana: Jwaneng, Orapa, Letlhakane, and Damtshaa.

Following the issuance of new mining licences by the appropriate regulatory authorities in Botswana and final governance approvals, both parties look forward to signing and executing the relevant agreements. Until the execution of these new agreements, the terms of the existing agreements will continue to remain in effect.