Cut 9 deal triggered early talks with De Beers � Kebonang :: Mmegi Online

Botswana and De Beers have decided to start negotiations for the next sales and marketing agreement a year earlier. This is due to a commitment by the diamond mining company to the next expansion project at Jwaneng, Cut 9 Project, a Cabinet minister has said.

The Mineral Resources, Green Technology and Energy Security minister, Sadique Kebonang told the media on Tuesday that due to the commitment that De Beers has pledged to invest in the Cut 9 Project, the two parties have agreed to begin negotiations for the extension of their 10-year marketing and sales agreement, which is due to lapse in 2020.

“Cut 9 will be a big investment by De Beers requiring a huge capital outlay. Because of this commitment, we have agreed to start negotiations for the next marketing and sales agreement early. Instead of waiting for 2018, we decided to start renegotiations now.

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