Gaborone/Cape Town — Botswana’s president, Mokgweetsi Masisi, wants a new, long-term, diamond-sales pact with De Beers when the current 10-year deal expires in 2020, and for more gems to be processed locally. The conclusion of an accord is crucial for both Botswana, which relies on diamonds for almost a fifth of its GDP, and for Anglo American’s De Beers that gets about two-thirds of its gems from Bptswana. Masisi, who is due to contest elections next year, is pushing for the industry to create more jobs and is "dead determined" that more diamonds be cut and polished in the country. "We have had a wonderful relationship with De Beers and we expect that relationship to be even more cemented," Masisi said in an interview on Monday in Gaborone. "There is a way of actually achieving a win-win for both, and that’s what we desire." Botswana is the world’s biggest diamond producer after Russia, and most of its gems are mined by Debswana, a 50-50 joint venture between the government and De ...
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