Diamond mining giant De Beers Group has completed negotiations with the Government of Botswana to establish a new ten-year sales agreement for Debswana’s rough diamond production until 2033. The agreement also includes a 25-year extension of Debswana’s mining licences to 2054.

Under terms of new agreement, Botswana’s government will be allowed to sell 30% of rough diamonds mined through joint mining venture with De Beers

De Beers has finalised talks on a rough diamond sales deal with the Botswana government and on extending mining licences for its joint venture there to 2054, the Anglo American unit said on Monday.