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De Beers Group stated on Wednesday that it had agreed with the federal government of Botswana to increase by one yr an settlement for the sale of tough diamonds from their three way partnership, Debswana.
The 2011 tough diamond gross sales settlement by which the enterprise sells 75% of its output to De Beers was set to run out in 2020, however was prolonged for a yr until final December after which once more for six extra months.
The Anglo American unit stated in a press release that the events had agreed to the one-year extension to allow the finalisation of discussions in direction of a brand new settlement.
Diamond gross sales account for a big share of Botswana’s overseas foreign money earnings.
The extension of the settlement for the sale of Debswana’s diamond output runs till June 30, 2023.
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