New Deal With Botswana Is Done, De Beers Confirms
The agreement will allocate an increasing proportion of the country’s rough diamonds to the government of Botswana over the next decade.

De Beers and Botswana first announced they had reached a new sales agreement in July 2023.
Under the terms of the agreement as initially announced, the share of rough diamonds mined by Debswana, the mining company operated jointly by De Beers and the Botswana government, sold through the Botswana’s Okavango Diamond Company (ODC), will increase from 25 percent to 30 percent to start.
Over time, ODC’s share of supply will gradually increase, hitting 50 percent by the final year of the contract, 2035.
The deal also includes the extension of Debswana’s mining licenses beyond 2029, and De Beers contributing to the “Diamonds for Development Fund,” which is designed to help Botswana diversify its economy.
On Monday, De Beers said the terms of the deal it ultimately reached with the government of Botswana are “substantively the same” as what was agreed to and communicated in 2023.
Debswana has three active diamond mines: Jwaneng, Orapa, and Letlhakane. The company’s fourth mine, Damtshaa, is on care and maintenance.
According to the Ore Reserves and Mineral Resource Report published last March by De Beers parent company Anglo American, Orapa is expected to remain operational through 2037, while Letlhakane is expected to produce through 2043.
Jwaneng, the world’s richest diamond mine by value, currently is expected to run dry by the end of 2036, though Debswana is looking to transition to underground operations at the mine, a move that would extend its life until at least 2050.
The new agreement between De Beers and the Botswana government replaces the current 10-year sales agreement that went into effect on Jan. 1, 2011.
That agreement has been extended multiple times, first because of the pandemic and then because of what De Beers described as “ongoing discussions” with Botswana’s leadership, including then-President Mokgweetsi Masisi.
In late October 2024, Masisi suffered a stunning defeat in the presidential election, with young people dissatisfied with the state of the country’s economy voting him out of office in favor of opposition leader Duma Boko.
Right after he was elected, Boko spoke publicly about the importance of finalizing the deal with De Beers.
De Beers said until the new sales and mining license agreements are signed, the terms of the current agreement will remain in effect.
Commenting on the end of negotiations, the company’s CEO Al Cook said, “Today’s news is important for De Beers and Botswana, and it will also underpin the global diamond industry.
“These agreements will allow us to work together to grow desire for beautiful, ethical, natural diamonds.”
The Latest

Sponsored by the Gemological Institute of America

The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.

The “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.

Show off your spooky side with these 12 festive jewels.


The “Brilliant & Beyond” panel coincides with the “Love & Marriage” exhibition curated by Davis Jewelers in Louisville, Kentucky.

Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.

From sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.

The company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.

“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.

For her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.

Notable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.

Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.

After experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.

It is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.

One of the individuals was apprehended at the airport as he was trying to flee the country.

The retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.

Hill Management Group will oversee, market, and produce next year’s spring show.

London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.






















