De Beers Buys Another Year to Strike Diamond Deal With Botswana
- The sides will extend current accord until end of next year
- Pandemic means more time is needed to negotiate a deal
Botswana accounts for more than two-thirds of De Beers’ output, while the country relies on diamonds for 90% of its exports.
Photographer: Chris Ratcliffe/Bloomberg
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De Beers is extending its decade-long sales agreement with Botswana, where it sells diamonds from the world’s best mines, for another year to give the sides more time to hammer out a new deal.