Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News __full__ Instant

The government is looking further into the future, actively exploring ways to acquire a direct 25% stake in De Beers itself, representing a massive shift in control. The New Threat: A Shifting Global Market

Yet, beneath this success story, a crucial question has always lingered: has Botswana been getting a raw deal? For decades, the government was only entitled to sell 25% of the rough diamonds produced in its own soil, with the remaining 75% channelled through De Beers's network. A new agreement signed in early 2025 has shifted the terms significantly, but the drama is far from over. Now, Botswana’s new president is pushing for a seismic shift – to effectively take control of De Beers itself.

Historically, Botswana's direct ownership in De Beers was just 15%, while mining conglomerate Anglo American held an 85% majority. Meanwhile, Botswana supplied approximately 70% of De Beers’ annual rough diamond production. This disparity led to widespread frustration. Proponents of a new deal pointed out several major sticking points: The government is looking further into the future,

The piece probably concludes that historically Botswana got an unfair deal, but the 2023 agreement represents significant progress — though whether it's "enough" depends on whether Botswana can successfully build its own diamond trading and manufacturing hub.

The state-owned Okavango Diamond Company’s share of Debswana’s rough production immediately jumped to 30%, with a contractual trajectory to reach 50% by the early 2030s . This gives Botswana direct control over marketing half of its own diamonds, bypassing the De Beers allocation mechanism entirely. A new agreement signed in early 2025 has

New frameworks mandate that De Beers actively assist in building Botswana’s domestic cutting, polishing, and diamond-tech capabilities, transforming Gaborone from a mining hub into a genuine technological and financial center for gemstones.

Is Botswana Getting a Raw Deal From De Beers Diamonds? A 2026 Perspective and diamond-tech capabilities

With Anglo American owning the lion's share of De Beers, profits were flowing out to international shareholders rather than being fully reinvested in the local economy. The Ultimatum and the Landmark Deal