In a joint effort to profile and sell a compelling Botswana story, Botswana public and private sectors joined hands to showcase at the Investing In African Mining Indaba conference in Cape Town, South Africa this past week. The Indaba ran from 3rd – 6th February 2025. Botswana’s Pavillion was a base for 20 institutions.
Led by the Ministry of Minerals and Energy, participating entities included BITC, MDCB, De Beers, Okavango Diamond Company, Debswana, DTCB, BGI, MMG Khoemacau, Jindal Africa, Lucara Botswana, Botswana Oil, Morupule Coal Mine, BOTASH, Abaricom, The Projects Magazine, and from the financial services sector – Stanbic Bank, Standard Chartered Bank, RMB and First Capital.
The Botswana delegation was led by Minister of Minerals and Energy, Bogolo J. Kenewendo, who charmed the audience at every platform she had. The highlight of Botswana’s participation at the Indaba was when the Minister was joined by De Beers CEO Al Cook to announce that the Government and De Beers have clinched a diamond sales agreement following protracted negotiations that were started by the previous government but could not be concluded before the General Elections.
The new Government led by Advocate Duma Boko had placed priority on completing negotiations, which had stalled over unexplained developments. Observers had been alarmed at the arrogant nature in which the previous Mokgweetsi Masisi government conducted the negotiations.
The minister said the full agreement will be signed before the end of this month but could not disclose the full details of what is included in the deal.
In a statement the partners announced the successful conclusion of negotiations focused on establishing a new sales agreement for Debswana’s rough diamond production, as well as extending Debswana’s mining licences beyond 2029. This development is in alignment with the Heads of Terms agreed on September 30, 2023.
Debswana, a 50:50 joint venture between the GRB and De Beers, operates several leading diamond mines in Botswana: Jwaneng, Orapa, Letlhakane, and Damtshaa. Following the issuance of new mining licences by the appropriate regulatory authorities in Botswana and final governance approvals, both parties look forward to signing and executing the relevant agreements. Until the execution of these new agreements, the terms of the existing agreements will continue to remain in effect.
The GRB and De Beers reaffirm their commitment to their enduring partnership, which has lasted over 50 years. This collaboration is aimed at the responsible recovery, marketing, and sale of diamonds, ensuring the sustainability of the global diamond industry while enhancing the significant fiscal and societal contributions that diamonds provide to Botswana.
The GRB and De Beers remain steadfast in their dedication to fostering a robust and sustainable diamond sector that positively impacts the nation’s economy and supports the welfare of its citizens.