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De Beers, Botswana agree in principle on diamond sales agreement and mining licences

Kitco Media
By Vladimir Basov
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(Kitco News) - Anglo American announced Monday that De Beers and the Government of Botswana have reached an agreement in principle on a new 10-year sales agreement for Debswana’s rough diamond production (through to 2033) and a 25-year extension of the Debswana mining licences (through to 2054).

Debswana was established in 1969 and is one of the world's foremost diamond producers by value and volume.

The company operates four diamond mines in Botswana (Jwaneng, Orapa, Letlhakane and Damtshaa) and is a 50:50 joint venture between De Beers and the Government of Botswana.

Debswana is the biggest contributor to the De Beers Group rough diamond production.

“De Beers and the Government of Botswana will work together to progress and implement the formal new sales agreement and mining licences. In the interim, the terms of the most recent sales agreement (which expired on 30 June) will remain in place,” the company said in a statement.

Anglo American is a leading global mining company. The company produces copper, nickel, platinum group metals, diamonds (through De Beers), and premium quality iron ore and steelmaking coal – with crop nutrients in development. The company is committed to being carbon neutral across its operations by 2040.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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