Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News Free — No Password

To understand the current friction, one must look at the current sales agreement, set to expire soon. The prevailing myth is that Botswana (through its state-owned entity, Okavango Diamond Company) and De Beers are equal partners—a 50/50 joint venture known as Debswana.

If Botswana wins, it will become the world’s first vertically integrated diamond sovereign nation, breaking the cartel for good. If De Beers wins, or simply walks away, Botswana faces a terrifying market crash. To understand the current friction, one must look

The 2023 negotiations between President Mokgweetsi Masisi and De Beers were uncommonly public and surprisingly aggressive. President Masisi threatened to walk away from the deal entirely unless Botswana received a larger slice of the pie. If De Beers wins, or simply walks away,

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In 2018, a report by the human rights group, Global Witness, accused De Beers of failing to provide adequate compensation to communities affected by its mining operations. The report also accused the company of using security forces to intimidate and harass local communities. : 4/5 In 2018, a report by the

Negotiations for a new deal have been ongoing for over a year, and they have turned ugly.