{"id":29849,"date":"2023-07-01T17:02:25","date_gmt":"2023-07-01T17:02:25","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days"},"modified":"2023-07-01T17:12:32","modified_gmt":"2023-07-01T17:12:32","slug":"de-beers-diamond-deal-expires-in-2-days","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days","title":{"rendered":"De Beers Diamond Deal Expires in 2 Days"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>With just two days remaining to the expiration date on the deal between Botswana and De Beers, questions are emerging about whether the intense negotiations will end without a new deal or the negotiations will be extended.<\/b><\/p>\n

Giving an update this week, the Minister of Mineral Resources, Green Technology and Energy Security, Lefoko Moagi, did not deny or confirm reports that Botswana is pushing for a 50 percent share of mined diamonds for direct marketing by state-owned company.<\/p>\n

\u201cNegotiations are ongoing and I wouldn\u2019t want to compromise them,\u201d he said on Btv this week.<\/p>\n

Pivotal role<\/b><\/p>\n

The current agreement \u2013 which has been in place for several decades \u2013 has played a pivotal role in establishing Botswana as a leading diamond producer in the world but is considered an outdated raw deal by the government.<\/p>\n

Under the existing arrangement, De Beers and the Botswana Government are equal partners in Debswana, the 50-50 joint venture that operates the mines.<\/p>\n

However, Anglo American owns 85 percent of De Beers while Botswana holds 15 percent of the parent company of the global diamond giant.<\/p>\n

Okavango Diamond Company <\/b><\/p>\n

Led by President Mokgweetsi Masisi, the government of Botswana is keen on increasing its share of mined diamonds allocated to Okavango Diamond Company to sell for the government to 50 percent.<\/p>\n

This move, if successful, would grant Botswana greater control over its precious diamond resources and potentially unlock significant economic benefits for the country.<\/p>\n

Negotiations between the two parties have reportedly been challenging and at times acrimonious, with both sides digging in their heels to secure a deal that aligns with their respective interests.<\/p>\n

Beneficiation <\/b><\/p>\n

Botswana\u2019s push for a larger stake is rooted in its desire to maximise benefits from the value chain by beneficiation and marketing.<\/p>\n

President Masisi has emphasised the importance of obtaining a fairer and more equitable agreement that reflects the ultimate ownership of the resource that is pivotal to the country\u2019s developmental aspirations.<\/p>\n

De Beers \u2013 which has a long history of expertise in every aspect of Botswana\u2019s diamond sector, has urged for a cautious approach, emphasising the need for maintaining balance to support sustainable economic growth.<\/p>\n

Ripple effects<\/b><\/p>\n

Industry experts and analysts are closely monitoring the negotiations, recognising the potential ripple effects that a revised deal could have on the global diamond trade.<\/p>\n

With only two days to the 30 June deadline on Friday this week, the need to find common ground and to reach a mutually beneficial agreement must be keener than ever.<\/p>\n

This is because the outcome of the protracted negotiations will have far-reaching implications not only for Botswana and De Beers but for the broader diamond market as well.<\/p>\n

The nation and stakeholders worldwide eagerly await an announcement in the coming days.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. With just two days remaining to the expiration date on the deal between Botswana and De Beers, questions are emerging about whether the intense negotiations will end without a new deal or the negotiations will be extended. Giving an update this week, the Minister of Mineral Resources, Green Technology and Energy Security, […]<\/p>\n","protected":false},"author":84,"featured_media":29848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,237,234],"class_list":["post-29849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nDe Beers Diamond Deal Expires in 2 Days - Botswana<\/title>\n<meta name=\"description\" content=\"With just two days remaining to the expiration date on the deal between Botswana and De Beers, questions are emerging ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"De Beers Diamond Deal Expires in 2 Days\" \/>\n<meta property=\"og:description\" content=\"With just two days remaining to the expiration date on the deal between Botswana and De Beers, questions are emerging ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-01T17:02:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-01T17:12:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/07\/sm_1688215078.249372.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"De Beers Diamond Deal Expires in 2 Days\",\"datePublished\":\"2023-07-01T17:02:25+00:00\",\"dateModified\":\"2023-07-01T17:12:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\"},\"wordCount\":469,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/07\/sm_1688215078.249372.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-diamond-deal-expires-in-2-days\",\"name\":\"De Beers Diamond Deal Expires in 2 Days - 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