-Had publicly threatened to cut ties
-Namibia also tows Botswana line of more from De Beers
Government and De Beers have agreed on a new 10 year sales agreement for stones from Debswana and a 25 year renewal of mining leases for Debswana’s mines.
“An interim deal has been sealed to preserve the terms of the most recent sales agreement which expired in June 30,” reads the statement.
The two parties are finalising implementation of the formal sales and mining agreement the statement released states.
The sales agreement, covering the selling of diamonds from Debswana, ran from 2011 until September 2020 and had been extended several times until expiry on June 30.
President Mokgweetsi Masisi has been at the forefront pushing for a new deal.
“We want more from the new agreement or we would walk,” he threatened a couple of times this year.
Diamond giant caved in to his demands.
In the new deal Botswana will get 50 share of rough diamonds to be sold,an agreement that will be reached in the next 10 years.
De Beers has also offered to grant Botswana P1 billion for the next 10 years.
Other details remain a preserve of the two partites.
On the other hand Namibian government is reported to be edging for a better deal like Botswana.
Masisi’s push ignited Namibians to want something better compared to an old decades one which they have.
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