Botswana is a key partner for De Beers and we are deepening and strengthening our relationship with the country, playing a significant part in Botswana’s economic future.
In February 2025 we signed formal new agreements with the Government of the Republic of Botswana, covering new sales agreements, mining licence extensions and several significant commitments – all designed to support Botswana’s economic development objectives and advance the national diamond industry.
Delivering long-term growth
Debswana, our 50:50 mining joint venture in Botswana, has had its mining licences extended for a further 25 years. This extension will enable us to deliver long-term value from existing mining assets and mine-life extension projects, including Jwaneng Cut-9, Jwaneng Underground and Orapa Cut-3.
We have also renewed a 10-year sales agreement for Debswana’s rough diamond production (with a potential five-year extension). We have a strategic relationship with the Government of Botswana’s rough diamond sales company, Okavango Diamond Company (ODC): ODC will sell 30 per cent and De Beers will sell 70 per cent of Debswana’s production from 2025-2030. For 2030-2035, ODC will sell 40 per cent and De Beers will sell 60 per cent; and from 2035-2040, both parties will sell a 50 per cent share.
Supporting Botswana’s economic development
An important part of our agreement with the Government of Botswana is a range of new commitments to support its economic development. Through exciting diamond-related initiatives, we hope to enhance in-country wealth creation and skills development, as well as help more people in Botswana to participate in the diamond industry:
- supporting economic growth, diversification and jobs in line with Botswana’s Vision 2036 and National Development Plan through the Diamonds for Development Fund. We have committed to an upfront investment of BWP 1 billion, as well as annual contributions from our dividends from Debswana (based on Debswana’s performance.)
- investing in a new diamond jewellery manufacturing facility
- establishing a De Beers Institute of Diamonds grading laboratory
- starting a diamond vocational training institute in collaboration with industry partners
- investing in marketing initiatives to boost global diamond demand, together with the Government of Botswana