De Beers and Government of Botswana sign last minute agreement

GUEST – Paul Zimnisky, an independent diamond analyst<br /> <br /> Paul Rowley is the Executive Vice President, Diamond Trading at De Beers [Clips]<br /> <br /> Botswana and diamond miner de beers announced on Saturday they had reached an ‘agreement in principle’ on a new 10-year sales agreement. this came hours after the previous sales agreement expired on Friday, 30 June, so there must have been some serious nail-biting in the boardroom de beers and the government of Botswana, after lengthy and at times apparently tense negotiations, finally clinched a 10-year new sales deal to 2033 as the old one expired. de beers produces rough diamonds in Botswana, the world’s second-leading source of the gemstones after Russia, through Debswana, a 50-50 joint venture with the government. Anglo American has an 85% stake in De Beers <a href="http://www.kayafm.co.za/">Kaya FM </a>