De Beers, govt agree 10-year diamond deal

Government and De Beers are close to signing an unprecedented 10-year diamond sales and marketing contract that will set the platform for Botswana's transformation from a mere gem producer to a global diamond sales and distribution centre, sources close to the proceedings have revealed.

According to industry sources, lawyers for the two parties are fine-tuning the new diamond deal in London for the parties to put pen to paper in July when De Beers new CEO Philippe Mellier takes over.