loader image
Connect with us

DiamondBuzz

De Beers and Botswana Reach Agreement on New Rough-Sales Deal and Extended Mining Licenses

De Beers and the government of Botswana have officially concluded their negotiations, finalizing a new rough diamond sales agreement and securing an extension of mining licenses for their joint venture, Debswana.

Published

on

370 views

This marks the successful end to a long negotiation process that has seen multiple extensions of the previous contract since it expired in 2021. Despite reaching an agreement in principle in June 2023 and signing a “heads of terms” document in September, the deal remained pending due to discussions with Botswana’s former president, Mokgweetsi Masisi, and was finalized after Duma Boko assumed the presidency in November.

Under the new sales agreement, 30% of Debswana’s production will be allocated to Okavango Diamond Company (ODC), Botswana’s state-owned trading arm, with plans to gradually increase this to 50% over the next 10 years. The deal also includes a significant extension of Debswana’s mining licenses, which were initially set to expire in 2029. A 25-year extension of these licenses is part of the agreement, further solidifying the long-term future of diamond mining in the country. Additionally, the partners will jointly handle the sale of exceptional diamonds, sharing in the profits of polished sales.

Furthermore, the new agreement involves a BWP 1 billion ($75 million) upfront investment by De Beers in a diamond development fund, with additional contributions over the next decade. The fund aims to diversify Botswana’s economy, create jobs, enhance local diamond beneficiation, and provide training opportunities. This move is part of a broader strategy to ensure that the country’s diamond sector continues to contribute to economic growth and development for years to come.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

DiamondBuzz

NDC Welcomes Angola’s ENDIAMA and SODIAM as New Members

Angola’s ENDIAMA and SODIAM Join Natural Diamond Council to Drive Global Industry Growth and Sustainable Development

Published

on

886 views

The Board of Natural Diamond Council (NDC) is delighted to announce that Angola’s ENDIAMA E.P. and SODIAM E.P. have formally joined the organization as members, following the completion of all legal and regulatory requirements for accession.

ENDIAMA E.P. – Empresa Nacional de Diamantes de Angola (National Diamond Company of Angola) is Angola’s state-owned diamond mining company, responsible for managing the country’s diamond resources and ensuring their sustainable development for the benefit of the Angolan people. SODIAM E.P. – Empresa Nacional de Comercialização de Diamantes de Angola (National Diamond Marketing Company of Angola) is the state-owned diamond trading company and unique channel for Angolan diamond export, overseeing the marketing and commercialization of Angola’s natural diamond production on the global stage.

This milestone follows the principles outlined in the Luanda Accord co-signed in June 2025 by representatives of diamond producing countries and industry stakeholders, including Angola, Botswana, De Beers and midstream representatives, signaling a shared commitment to support the natural diamond industry and the communities whose lives and livelihoods depend on it.  The Accord reflects a shared vision to take decisive action, backed by sufficient resources, for the long-term health and integrity of the natural diamond industry through the NDC’s marketing and education work to inspire consumer desire for natural diamonds. The recent receipt of Angola’s financial contribution stands as a tangible testament to the proactive commitment set in motion by the Luanda Accord.

“The future success of the industry will be defined by our ability to work together to communicate the true story of natural diamonds – both their desirability and their ability to drive development.  I am therefore delighted to welcome ENDIAMA E.P. and SODIAM E.P. as NDC members,” states Sandrine Conseiller, CEO of De Beers Brands and NDC Chair.

“Through growing the organization’s representation across the natural diamond value chain, the NDC will be better positioned to amplify the collective voice of the industry, strengthen consumer education, and reinforce trust in natural diamonds as rare, precious creations of nature with profound social and economic impact.”

“Natural diamonds are not only the world’s most precious and timeless stone- but they are also the bedrock of Angola’s prosperity providing stability and livelihood for millions of our people,” says Dr. José Manuel Augusto Ganga Júnior, ENDIAMA E.P.’s Chairman. “By joining the NDC we are signaling our commitment to ensuring a bright future for the natural diamond industry – and Angola’s position in it- through revitalized and sustained investment in global generic marketing executed by NDC.”

“We are delighted to join the Natural Diamond Council, strengthening Angola’s voice in the global diamond community and fostering collaboration that promotes responsible growth, transparency, and shared prosperity across an industry which plays a vital role in shaping the future of diamond-producing nations, driving sustainable economic development, and ensuring that the benefits of this natural resource contribute meaningfully to national progress and wellbeing of our communities,”states Dr. Eugénio Pereira Bravo da Rosa, Chairman of SODIAM E.P..

At the same time, the NDC Board of Directors is actively reviewing its governance documents to enable broader participation from across the natural diamond value chain. These updates are intended to support greater inclusivity, transparency, and engagement, ensuring the organization continues to evolve in step with the industry it represents.

Together, these developments mark a positive and forward-looking chapter for the Natural Diamond Council as it advances its mission to protect and promote the integrity, desirability, and enduring value of natural diamonds worldwide.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x