As the world continues to demand more transparency and accountability from mining companies, De Beers and the government of Botswana must work together to ensure that the diamond industry benefits both the company and the country.
Currently, diamonds from Botswana are often mixed with stones from South Africa, Canada, and Namibia before being sold. Botswana wants the right to sell its own stones independently—specifically through the state-owned Okavango Diamond Company (ODC) . De Beers is resisting, arguing that aggregation allows for better pricing consistency. As the world continues to demand more transparency
In February 2025, after seven years of tense negotiations, the two parties finally signed a transformational new 10-year sales agreement and a 25-year extension of mining licenses. While officials celebrate this "groundbreaking" deal, the underlying economic pressures and shifting power dynamics suggest a more complex reality. The Evolution of the Deal: From 25% to 50% De Beers is resisting, arguing that aggregation allows
Several arguments suggest that Botswana may be getting a raw deal from De Beers: The Evolution of the Deal: From 25% to
. Historically, the partnership transformed Botswana from one of the world's poorest nations in 1966 into an upper-middle-income country today Key Arguments for a "Raw Deal" Low Share of Sales : For years, Botswana's state-owned Okavango Diamond Company (ODC)
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