Diamond deal terms reveal last minute ‘compromises’

Friday, February 28, 2025 | 1060 Views |

The deep slump in diamonds and negative earnings at De Beers overshadowed the finalisation of the deal with Botswana, forcing government to make compromises on timelines in order to support the company’s survival and the country’s own future, Mmegi can reveal.

The few main clauses of the deal made available this week show that between the heads of terms agreed upon last September, and the signing of the final deal this week, concessions were made between the two partners.

One key change is the timing of the phased increase in the allocation of 50% of Debswana’s output to the state-owned Okavango Diamond Company (ODC). In the September heads of terms, the increase in the ODC allocation from the current 25% to 50%, was scheduled to occur over the ten years of the deal.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Diamonds

Destiny vs. Dynasty: Arsenal Chase Historic First as Retaining Kings PSG Stand in the Way of Immortality

correspondent | 1d ago

We are ready to save Botswana - BCP

staff writer | 1d ago

Arteta ready to take final step to redemption

The Guardian* | 1d ago

Botswana targets motorsport future through karting

Kabelo Boranabi | 1d ago

Gripping cricket contests on the cards

Mqondisi Dube | 1d ago

Table Tennis to host Maun Open

Calistus Kolantsho | 1d ago

Awards spark debate after surprise winners

Larona Makhaiza | 1d ago

BNSC’s grant cut by P10m

Calistus Kolantsho | 1d ago

BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

The Monitor Editor | 26 May 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.