Botswana's government on Tuesday signed a long-delayed 10-year diamonds sales agreement with Anglo American unit De Beers adding a possible extension period of five more years to the provisional pact.

Botswana's government and De Beers finalised a 10-year diamond sales agreement after a protracted negotiation period, Reuters reported.

The Botswana government has signed a new diamond sales agreement crucial to its economy with the De Beers mining company after seven years of negotiations

Botswana's government has finalized a crucial diamond sales agreement with De Beers, aiming to revive its economy. This deal is crucial as the country's economy significantly relies on diamond exports.

As part of the deal, Botswana's share of diamonds from Debswana, a joint venture with De Beers, will rise from 25% to 50%.

De Beers and Botswana’s government will jointly fund a marketing campaign to resuscitate demand for natural diamonds.

Botswana's government finalized a diamond sales agreement with De Beers, a subsidiary of Anglo American. Initial negotiations began in 2018, and though terms were provisionally agreed upon in 2023, a formal agreement was not signed until President Duma Boko prioritized it after taking office in October.