De Beers, gov’t talks enter last lap

Confident: Moagi says both partners are committed to finalising their negotiations by June PIC: MBONGENI MGUNI
Confident: Moagi says both partners are committed to finalising their negotiations by June PIC: MBONGENI MGUNI

The much-anticipated finalisation of a new sales agreement between the government and De Beers is being held up by “two material issues” as the June deadline for the long-drawn out negotiations looms.

BusinessWeek is informed that with the negotiations having dragged on for five years, finalising a deal by June is seen as key to settling market jitters that have grown, fuelled by speculation about why the industry’s major players are yet to wrap up their talks.

The current agreement expired in September 2020 and has been extended several times, initially because of the pandemic and later without clear explanations by either party. In 2018, when they kicked off their negotiations, both sides had established five-member teams to work on their heads of agreement.

Editor's Comment
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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