De Beers is renegotiating a 50-year partnership with Botswana Botswana is the world’s biggest producer of diamonds by value
Botswana will acquire a 24% stake in Belgian gem trader HB Antwerp, in a deal that could challenge the southern African nation’s 50-year partnership with De Beers.
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As part of the agreement announced by President Mokgweetsi Masisi on Monday, Botswana’s state gem trader Okavango Diamond Co. will receive polished rather than rough prices over a five-year supply deal with HB Antwerp for some of its sales. The new approach could potentially generate more revenue for the government
Source:
Bloomberg
