De Beers hails spirit of renewal after Boko meeting

While government and De Beers signed an agreement in principle last June and heads of terms in October, the two sides are yet to finalise the agreement that will govern the sale of diamonds from Debswana mines into the future.

Under the agreement in principle, Botswana’s state-owned diamond trader, the Okavango Diamond Company, will be entitled to purchase and independently market 30% of output from Debswana, up from the current 25%. The allocation will rise to 50% over the next ten years.