Botswana close to finalizing diamond deal with De Beers

Botswana’s President Duma Boko announced on Thursday that his government is close to finalizing a diamond sales agreement with De Beers, the diamond mining arm of Anglo American (AAL.L).

Speaking during a Reuters NEXT Newsmaker interview at the World Economic Forum in Davos, Boko expressed optimism about the imminent signing of the deal. “I’m hoping it is tomorrow,” he said, highlighting that the remaining steps involved final adjustments to the agreement.

Botswana, the world’s leading diamond producer by value, reached an initial agreement with De Beers in 2023, but the deal was never officially signed. President Boko’s comments signal renewed momentum following his unexpected election victory late last year, which ended nearly six decades of rule by the previous government.

The pact is anticipated to play a crucial role in shaping the future of Botswana’s diamond industry and its economic partnership with De Beers.

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