President Duma Boko, speaking last Thursday at the World Economic Forum in Davos, expressed optimism that the deal could be signed as early as Friday. However, as of Sunday, no official confirmation had been made.
“There’s just a bit of tidying up left,” Boko told reporters, according to a Reuters report.
The agreement, when finalized, will significantly reshape the diamond partnership between Botswana and De Beers. Under the proposed terms, Botswana’s share of diamonds from the Debswana joint venture will gradually rise from 25 percent to 50 percent over the next decade.
This development follows negotiations initiated by former President Mokgweetsi Masisi, who had previously threatened to abandon the deal unless Botswana secured a more favorable arrangement.
In addition to increasing Botswana’s share of diamonds, the deal extends mining licenses until 2054 and commits De Beers to invest up to $825 million over the next 10 years to support Botswana’s economic development.
If finalized, the agreement will mark a turning point for Botswana’s diamond industry, reinforcing its position as one of the world’s leading diamond producers while fostering greater economic growth and development for the nation.
