The government expresses satisfaction with the progress made in negotiations with the global diamond company De Beers regarding the details of their long-term partnership. President Dr. Mokgweetsi Masisi stated that Botswana aims to strengthen its position in the industry through this partnership, seeking to maximize benefits from its natural resources.

During a courtesy visit by CEO Al Cook and De Beers Botswana resident director Neo Moroka to the Office of the President, President Masisi emphasized the country's desire for a partnership that would allow for greater benefits, moving away from past agreements that constrained Botswana's diamond trade expansion.

President Masisi noted the positive trajectory of negotiations, with both parties committed to a new, mutually beneficial relationship, expected to be finalized before the set deadline of June 28.

Minister of Minerals and Energy, Mr. Lefoko Moagi, highlighted the significant progress made in negotiations, with key milestones achieved through agreements such as the Statement of Principles and the Heads of Terms. He outlined the remaining steps, including finalizing the Long Form Agreement.

Mr. Cook expressed confidence in the ongoing negotiations, foreseeing a mutually advantageous outcome for both parties, emphasizing the need for a forward-looking partnership that aligns with Botswana's vision beyond the current decade.

He also emphasized De Beers' commitment to creating value in Botswana while ensuring profitability, acknowledging the need to modernize agreements to better reflect the current landscape and Botswana's aspirations.

Mr. Cook further clarified that any restrictions on Russian diamonds worldwide should not impact Botswana's trade policies.