Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News [top] Link

Currently, diamonds from Botswana are often mixed with stones from South Africa, Canada, and Namibia before being sold. Botswana wants the right to sell its own stones independently—specifically through the state-owned Okavango Diamond Company (ODC) . De Beers is resisting, arguing that aggregation allows for better pricing consistency.

When diamonds were discovered in Botswana in 1967, just a year after independence from Britain, the nation was one of the poorest in the world. The subsequent formation of —a 50:50 joint venture between the government of Botswana and De Beers Group —transformed the country into an upper-middle-income economy.

To understand the current tension, one must look at Debswana—the 50/50 joint venture between the Botswana government and De Beers. For half a century, this partnership has transformed Botswana from one of the world's poorest nations into a middle-income success story. Diamonds account for roughly 30% of the country’s GDP and the vast majority of its foreign exchange earnings. Currently, diamonds from Botswana are often mixed with

Through a newly signed, historic 10-year sales agreement and a massive push to acquire a majority controlling stake in De Beers itself, Botswana has transformed from a passive resource provider into an aggressive driver of the global diamond value chain.

However, this ambition is fraught with immense risk, and not everyone believes it is a wise move. When diamonds were discovered in Botswana in 1967,

Under the new terms, Botswana has clawed back a larger share of the supply. For the first five years, ODC will sell 30% of Debswana’s output. In the second half of the decade, that figure rises to 40%. Furthermore, the deal stipulates that by the final phase of the contract in 2035, ODC’s share will eventually reach 50%.

Despite the improved terms, voices in Botswana, including politicians like Ndaba Gaolathe, argue that the country has historically missed opportunities to own its full value chain. For half a century, this partnership has transformed

How De Beers Shaped - and Still Controls - the Diamond Market

President Masisi has drawn a hard line in the sand. He isn't asking for a revolution; he is asking for . He wants: