Anglo American signed a diamond sales deal with De Beers Group and the Government of Botswana, last week.
The signed deal is an agreement for a 10-year Sales Agreement, which may be extended by a further 5 years and later, a 25-year extension of the Mining Licences (from 2029 through to 2054) for Debswana.
Debswana operates the Jwaneng and Orapa diamond mines in Botswana and is a 50:50 joint venture between De Beers and the Government of Botswana.
Speak about the deal, Duncan Wanblad, Chief Executive of Anglo American, congratulated both De Beers and the Government of Botswana.
Wan bald said “we are delighted that this extraordinary diamond partnership is secured for decades to come, affirming De Beers’ leadership position and providing reassurance across the entire diamond value chain. These agreements provide long term stability for both partners as they work together to support the rough diamond market’s recovery from a period of challenging trading conditions. The certainty provided also forms a critical step towards De Beers’ next chapter as an independent company and as the world’s most iconic diamond business.”