Govt earns P3.3 billion in diamond royalties, taxes

Released on Wednesday, De Beers' Report to Society (RtS) 2009 details the diamond giant's contribution to governments, communities, the environment and its performance across several other non-financial indicators over the year. Before the recession, Botswana, Namibia and South Africa earned P8.4 billion in royalties, taxes and other charges on mines either wholly or 50 percent owned by De Beers. Generally, Debswana accounts for about 70 percent of this revenue.

But last year, governments in Botswana, South Africa and Namibia collectively earned P4.8 billion from royalties, taxes and charges stemming from De Beers' mining operations.