GABORONE, Feb. 3 (Xinhua) -- Botswana announced on Monday that it has reached an agreement with De Beers, the world's leading diamond company, to extract and sell diamonds, bringing confidence to the country's diamond-dependent economy.

"The government of Botswana and De Beers Group 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 licenses beyond 2029," the two sides said in a joint statement.

Debswana, a 50/50 joint venture between the government of Botswana and De Beers, operates major diamond mines in Botswana, including Jwaneng, Orapa, and Damtshaa.

This arrangement is subject to the issuance of new mining licenses by Botswana's regulatory authorities and final governance approvals. Until the new agreement is agreed upon and signed, the terms of the existing agreements will remain in effect, according to the statement.

Botswana and De Beers have reaffirmed their commitment to their long-standing partnership of more than 50 years. They underlined the cooperation's commitment to responsible mining, marketing, and sales of diamonds, highlighting the importance of a sustainable global diamond sector. Through the partnership, they aim to maximize the societal benefits that diamonds bring to Botswana.

Both parties reiterated their pledge to build a strong and sustainable diamond sector that benefits the southern African country's economy and the well-being of its population. Enditem

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