Botswana’s new president expressed confidence that his country’s diamond agreement with De Beers will continue and that the two partners will resolve any remaining issues, as reported by IDEX Online.
Botswana’s President Duma Boko, who was elected in Botswana’s October elections, recently hosted De Beers CEO Al Cook and Duncan Wanblad, CEO of Anglo American, De Beers’ parent company, in Gaborone.
“We have a longstanding partnership which has benefited this country, which has carried on for those many years. We are confident that it will endure into the future,” said Botswana’s new president.
“Where there are any niggling issues, as I understand they have been, and there probably still are, we will work together as we should, as partners who work together along the way […] To resolve those niggling issues, in the best manner possible. We will engage with each other in the utmost good faith,” concluded the president.
According to the report, Botswana’s outgoing president, Mokgweetsi Masisi, reached a provisional agreement with De Beers on diamond mining and sales. This agreement is critical to the country’s economy. Under the agreement, Botswana’s government share of diamonds is set to increase from the current 25% to 50% within a decade. However, a final agreement has yet to be signed.
Another challenge arises from Anglo American’s intention to sell De Beers to focus on other areas. Anglo CEO Duncan Wanblad stated, “Botswana is one of our proudest partnerships, one that we value very deeply and one that we are committed to through thick and thin.”
“As partners, we sometimes have diverging views but we always have to have converging interests.
And I really do believe that we stand committed to working faithfully and openly with the government in Botswana, driving forward what has been an incredibly good relationship and partnership with this country for over 50 years, for at least the next 50 years,” added Anglo’s CEO.
