ODC eyes 25% of Debswana output

Friday, June 20, 2014

Government may increase the share of diamonds the Okavango Diamond Company (ODC) gets from Debswana production to as much as 25 percent. ODC is wholly subsidised by the Botswana government.

As part of a 10-year agreement of 2011 with De Beers, the fledgling ODC currently has access to 14 percent of Debswana output (three million carats) being sold via auctions as Botswana seeks to develop its own price book through the independent window.

Speaking to a diamond magazine Jckonline during his recent visit to the USA, Minerals Energy and Water Resources Minister Kitso Mokaila said that their next negotiations with De Beers will determine how much ODC will get.

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ODC eyes 25% of Debswana output

Government may increase the share of diamonds the Okavango Diamond Company (ODC) gets from Debswana production to as much as 25 percent. ODC is wholly subsidised by the Botswana government.