Australian miners wary of Russian forays into West Africa
The Australian mining and petroleum community in West Africa is keeping a close eye on the growing Russian influence in the region.
Weighing in at a jaw-dropping 1,098 carats, the gemstone discovered by Debswana, a partnership between De Beers and Gaborone, made headlines the world over. But behind all the distracting sparkle, the business of diamonds is losing its shine.
De Beers is killing two birds with one stone by gifting diamonds to Botswanan healthcare workers: the giveaway boosts the company's image in Botswana, its biggest sources of gems, and should help put it in President Masisi's good books, as negotiations on renewing its diamond sales contract have been ensuing for over a year.
Having suddenly found herself at the helm of Debswana in 2019 following the premature death of her predecessor, Lynette Armstrong has been running Botswana's leading diamond producer in an acting capacity. With the appointment of a permanent managing director pending, she has been activating her networks as well as renegotiating the contract to sell the company's diamonds with its two shareholders, the Botswanan state and De Beers.