Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News -

On paper, the numbers are staggering. Botswana produces roughly 20% of the world’s diamonds by value, including those legendary, massive stones that fetch millions at auction. Through Debswana (the 50/50 joint venture), everything is split down the middle—production, profits, and debt.

The current deal is a relic of a pre-synthetic, pre-internet monopoly era. In a world where De Beers’ market share has shrunk from 90% to around 30%, Botswana no longer needs a guardian; it needs a logistics partner. On paper, the numbers are staggering

While De Beers moved its "sights" (sales events) to Gaborone in 2013, a symbolic victory for the nation, critics argue this was a logistical shift rather than a structural economic transformation. Botswana still sells the rough stones. The lucrative downstream industries—where a rough stone becomes a polished jewel sold in a boutique in New York or Hong Kong—remain largely out of reach for the Batswana economy. The current deal is a relic of a

only received 25% of the diamonds mined by their joint venture, , while De Beers took 75%. Missing Downstream Value Botswana still sells the rough stones

Botswana has finalized a 10-year sales agreement and 25-year mining license extension with De Beers, boosting its production share to 30%—set to rise to 50%—and securing over $750 million in development funding . The landmark deal strengthens local beneficiation and positions Botswana to potentially take a controlling stake in De Beers as owner Anglo American divests . Read the full details of the agreement on Reuters . Is Botswana Getting a Raw Deal From De Beers Diamonds?