De Beers CEO sees talks on new Botswana diamond pact concluding soon
The CE of global diamonds giant De Beers, Al Cook, said that his company expected negotiations with Botswana's government over a new diamond sales pact to conclude soon.
"We see negotiations concluding in days and weeks, not months and years," Cook said after meeting Botswana's new President Duma Boko, according to a video clip shared by Botswana's presidency.
De Beers, a unit of Anglo American, last year agreed a new diamond sales pact with Botswana, which would see the government's share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade.
Debswana Diamond Company, equally owned by Botswana and De Beers, currently sells 75% of its output to De Beers.
Although Botswana's former president Mokgweetsi Masisi touted the merits of the deal, it has yet to be signed.
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