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BOTSWANA

Gaborone reaps bigger share of Debswana's diamonds

Although talks are still in progress between Botswana and diamond producer De Beers on the terms of their partnership agreement, the share of Debswana's diamonds allocated for sale by the state-owned Okavango Diamond Company has been quietly but substantially increased. [...] (339 words)

Issue dated 24/08/2021 Reading time 2 minutes

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Mining

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BOTSWANA
Covid-19
De Beers
Debswana
Mmetla Masire
Mokgweetsi Masisi
Okavango Diamond Company

Masisi uses Lucara to pressure De Beers for better revenue-sharing deal

President Masisi wants to make De Beers share proceeds from polished stones from the Debswana mines that Botswana runs jointly with the firm. He hopes their new arrangement will be similar to miner Lucara's deal with diamond dealer HB Antwerp.

BOTSWANA Mining 17/03/2022

Masisi pitches to Dubai investors in bid to boost Gaborone diamond polishing business

Botswana is still struggling to have all of the diamonds allocated for domestic processing polished internally. President Masisi visited Dubai on 11 March in the hope of winning over new investors who might be willing to bet on the Botswana capital's future as a diamond hub.

Botswana President Mokgweetsi Masisi arrived in Dubai on 11 March 2022.

BOTSWANA Mining 09/03/2022

Infotrac trial exposes shareholder brawls for control of Debswana

As the diamond producer Debswana's shareholders, De Beers and the Botwsana government, continue to negotiate the appointment of its new managing director, a lawsuit filed by a contractor hired to run a background check on its former CEO sheds lights on a muted battle for control of the firm.

BOTSWANA Mining 25/11/2021

Gaborone seeks backing in Brussels to host Kimberley Process HQ

In keeping with his election promises to promote the presence of Botswana within key international institutions, President Mokgweetsi Masisi is on an EU lobbying drive. He is hoping to secure the backing of Brussels for his country to be chosen as the location for the new permanent secretariat of the Kimberley Process.

On a trip to Brussels from 13 to 16 November 2021, Botswanan president Mokgweetsi Masisi (left) met with the European Union's diplomatic chief, Josep Borrell.

BOTSWANA Mining 09/11/2021

African Energy Resources to remove its Botswanan coal business from Australian Securities Exchange

With the business climate increasingly unfavourable for investment in coal, African Energy Resources plans to hive off its Botswanan coal assets from its Australian parent company, which is listed on the Australian Securities Exchange. They will in future be held by a non-listed company, away from the sight of conscientious investors.

Botswanan President Mokgweetsi Masisi, 23 September 2021. © Spencer Platt/EPA/Pool/MaxPPP

Spotlight

BOTSWANA Mining 07/10/2021

Masisi banks on sale of BCL assets to boost his fortunes

In Gaborone, the government of Mokgweetsi Masisi is hoping to capitalise on the sale of the assets of the former public copper-nickel-cobalt flagship BCL to promote job creation, which until now has been touted as the main weakness of its economic programme.

BOTSWANA Mining 10/09/2021

The Dimbungus keep growing their mining interests

Husband and wife Len Dimbungu and Mpho Dimbungu, diamond industry veterans and highly successful entrepreneurs in Gaborone, have just founded a new mining company.

BOTSWANA Mining 12/07/2021

Gaborone seeks to sparkle in diamond processing

The business of cutting and polishing diamonds is fiercely competitive. To gain a foothold, Botswana is beefing up the capacity of the parastatal Okavango Diamond Company, which wants to soon sell 'Made in Botswana' gems.

BOTSWANA Mining 22/06/2021

Dazzle of world's third largest diamond masks industry doldrums Free

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.

Botswana President Mokgweetsi Masisi, with the newly discovered 1000-carat diamond.

BOTSWANA Mining 19/01/2021

De Beers hopes to sparkle in the fight against Covid-19

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.

The Bagaka Ba Rona program launched by De Beers and the Government of Botswana.

Inner circles

BOTSWANA Mining 14/05/2020

Lynette Armstrong's levers of influence to consolidate Debswana's diamond business

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.

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