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Vol 64 No 7

Published 30th March 2023


President Masisi presses De Beers for bigger cut of diamond cash

Ahead of next year's elections, officials say they want to boost accountability and the nation's stake in mining

After five years of negotiations over revenues and production at the world's biggest diamond mine, Botswana's President Mokgweetsi Masisi and the De Beers conglomerate are at loggerheads. Masisi, who is on the campaign trail for next year's elections, is demanding a bigger share of the downstream revenues from his country's diamond production. That would mean rewriting a 50-year arrangement with De Beers, once hailed as one of the most successful Public Private Partnerships (PPP) on the continent.

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