De Beers and Botswana sign diamond partnership for the next generation

Anglo American announces that De Beers Group (“De Beers”) and the Government of the Republic of Botswana (the “Government of Botswana”) have signed the formal new agreements for a 10-year Sales Agreement (which may be extended by a further 5 years) and a 25-year extension of the Mining Licences (from 2029 through to 2054) for Debswana. Debswana operates the Jwaneng and Orapa diamond mines in Botswana and is a 50:50 joint venture between De Beers and the Government of Botswana.

Duncan Wanblad, Chief Executive of Anglo American, congratulated both De Beers and the Government of Botswana, saying: “We are delighted that this extraordinary diamond partnership is secured for decades to come, affirming De Beers’ leadership position and providing reassurance across the entire diamond value chain. These agreements provide long term stability for both partners as they work together to support the rough diamond market’s recovery from a period of challenging trading conditions. The certainty provided also forms a critical step towards De Beers’ next chapter as an independent company and as the world’s most iconic diamond business.”

The agreements are aligned with the Heads of Terms that were agreed between De Beers and the Government of Botswana in September 2023.