Botswana has brushed off reports that it’s seeking to end its long-standing relationship with De Beers and believes the pair will come to an agreement.
The country is in ongoing talks with the mining company over a mining license, which expires in 2029, and a sales deal, which runs until the end of next month.
Recent allegations in the media suggesting the government or President Mokgweetsi Masisi was looking at “replacing” De Beers as a partner are an attempt to “tarnish” Masisi’s name or cause divisions between the negotiating parties, the government said Monday.
“These pronouncements will not derail [the government] from pursuing what it believes is in the best interest of the country,” according to the statement by William Kemotho Sentshebeng, deputy permanent secretary for the Botswana Government Communications and Information System (BGCIS). “The negotiations…are ongoing, and we are confident that they will result in a deal that will benefit both parties.”
Last week, an article in Botswana’s Mmegi newspaper and BNE IntelliNews claimed the diamond industry was “in crisis,” that Botswana was “going rogue,” and that the famous partnership “may be about to go up in smoke.” That followed several press reports in recent months questioning the future of the relationship — many of which have met flat denials.
Botswana’s new investment in Belgian manufacturer HB Antwerp focuses on midstream and downstream operations and “will not affect or replace” the De Beers partnership, Sentshebeng said.
On Sunday, De Beers moved to rebut another report in Botswana’s Sunday Standard claiming it had violated US sanctions on Russian diamonds and that the allegations could “taint” Botswana’s goods.
Image: A truck at De Beers’ Jwaneng mine in Botswana. (Shutterstock)
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