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GOVERNMENT OF THE REPUBLIC OF BOTSWANA AND DEBEERS CONCLUDE NEGOTIATIONS ON ROUGH DIAMONDSALES AGREEMENT

The Government of the Republic of Botswana (“GRB”) and De Beers Group (“De Beers”) are pleased to
announce the successful conclusion of negotiations focused on establishing a new sales agreement for
Debswana’s rough diamond production, as well as extending Debswana’s mining licences beyond 2029.
This development is in alignment with the Heads of Terms agreed on September 30, 2023.
Debswana, a 50:50 joint venture between the GRB and De Beers, operates several leading diamond mines
in Botswana: Jwaneng, Orapa, Letlhakane, and Damtshaa.
Following the issuance of new mining licences by the appropriate regulatory authorities in Botswana and
final governance approvals, both parties look forward to signing and executing the relevant agreements.
Until the execution of these new agreements, the terms of the existing agreements will continue to remain
in effect.
The GRB and De Beers reaffirm their commitment to their enduring partnership, which has lasted over 50
years. This collaboration is aimed at the responsible recovery, marketing, and sale of diamonds, ensuring
the sustainability of the global diamond industry while enhancing the significant fiscal and societal
contributions that diamonds provide to Botswana.
The GRB and De Beers remain steadfast in their dedication to fostering a robust and sustainable diamond
sector that positively impacts the nation’s economy and supports the welfare of its citizens.

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