De Beers, gov’t talks could hinge on Jwaneng :: Mmegi Online

Jwaneng Mine’s P65 billion underground expansion not only represents the future of the country’s diamonds into the 2050s, but is the central bargaining chip government and De Beers are both citing as they enter the last months of negotiations.

Industry insiders who spoke to Mmegi this week said the mammoth expansion planned for Jwaneng would become the deciding factor in the final terms of the agreement the two partners are hammering out ahead of their agreed June deadline.

Since 2018, government and De Beers have been negotiating a new agreement governing sales from Debswana, the 50/50 joint venture the two partners established in 1969 which has grown to become the world’s largest rough diamond producer by value. Recently, it was revealed that the talks also include renewal of the mining leases for Jwaneng, Orapa, Damtshaa and Letlhakane which all expire in 2029.

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