Botswana’s bargaining chip is simple: Give us the rough stones, or we will simply refuse to renew your mining license.
The current agreement allows De Beers to market the majority of Debswana’s production. The government has argued that the fees and royalties they receive do not reflect the true market value of the stones, especially as De Beers rebrands itself towards "ethical" and "conflict-free" diamonds. Botswana’s President Mokgweetsi Masisi has been vocal about this, suggesting that Botswana deserves a larger share of the pie because the diamonds are the foundation of De Beers' global reputation. Botswana’s bargaining chip is simple: Give us the
: Most rough diamonds were historically shipped abroad for cutting and polishing in hubs like India, depriving Botswana of higher-value manufacturing and retail jobs. Alleged Profit Shifting The new deal signed in 2023 represents a
Negotiations for a new deal have been ongoing for over a year, and they have turned ugly. and they have turned ugly.
The new deal signed in 2023 represents a desperate and necessary grab for sovereignty. Whether it is enough to sustain Botswana's future depends less on De Beers and more on how quickly Gaborone can turn diamond wealth into a post-diamond economy. For now, the partnership remains a "marriage of convenience" where both parties are sleeping with one eye open.
. But as the global diamond market shifts, the question of whether Botswana is getting its fair share has moved from boardroom whispers to front-page news. The Changing Power Balance
As negotiations drag on, President Masisi has played a high-stakes card: threatening to walk away. He has publicly stated that if De Beers won't yield, Botswana will launch its own state-owned diamond trading house.