Botswana’s Quest for Diamond Business Fairness: Rethinking the De Beers Partnership
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These are the 2nd and third largest diamonds of this century each found in botswana.
All this started after Botswana made a partnership with De Beers, a distinguished diamond mining firm which has lasted for 56 years. Nonetheless, Botswana is now looking for for a greater deal and threatening to interrupt ties with De Beers primarily as a result of the deal kinda sucks. Consultants name it the “colonial mannequin” the place Botswana primarily mines and polishes diamonds, lacking out on the higher-value processes like jewellery making. And to make issues worse, Botswana receives solely 1 / 4 of the tough diamonds provided.
Botswana wishes a 50-50 share or will contemplate terminating the settlement, aiming for a greater deal within the diamond trade. And Botswana is basically severe about getting a greater deal like just lately the purchased 24% stake of a Belgian based mostly diamond processing agency.
Sources:
https://www.mining-technology.com/data-insights/diamond-in-botswana/
Botswana threatens break-up with De Beers in push for better diamond deal
https://seekingalpha.com/information/3955990-botswana-threatens-to-dump-de-beers-without-better-diamond-deal
https://www.africanews.com/2023/02/13/we-want-a-bigger-share-botswana-de-beers-row-over-diamond-profits/
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