Botswana government, De Beers sign an historic agreement
A landmark agreement between the international mining giant De Beers and the diamond producing giant Botswana will see the two long-time partners embarking on a watershed initiative that can potentially transform the economic profile this land-locked Southern African country.
At the official signing ceremony held last May at the Gaborone International Convention Centre, and in the presence of Botswana President HE Festus Mogae, Botswana's Minister of Minerals, Energy and Water Resources, the Honourable Charles Tibone, ebulliently declared: "The significance of these agreements cannot be over-stated. We must make the case that Botswana has now come of age."
The signing covered a suite of agreements between De Beers and the Government of Botswana. They include the renewal of the mining license for the Jwaneng Mine, the most valuable diamond mine in the world, to 2029. The extension of mining licenses for the country's other mines which were also discovered by De Beers will run concurrently. These mines are Orapa, Letlhakane, and Damtshaa. The extension of Debswana sales agreement for 5 years to the Diamond Trading Company (DTC) for another 5 years. The DTC is the international sales and marketing arm of De Beers.
Botswana's Minister of Minerals, Energy and Water Resources, Charles Tibone (r) with Nicky Oppenheimer at the end of the signing ceremony.
The Botswana Government and De Beers conclude negotiations to establish Diamond Trading Company Botswana, a company which will sort, value, sell and market diamonds in Botswana and to extend all mining leases for 25 years.