Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News -

De Beers committed to investing in local "downstream" activities like cutting, polishing, and jewelry manufacturing.

While De Beers moved its "sights" (sales events) to Gaborone in 2013, a symbolic victory for the nation, critics argue this was a logistical shift rather than a structural economic transformation. Botswana still sells the rough stones. The lucrative downstream industries—where a rough stone becomes a polished jewel sold in a boutique in New York or Hong Kong—remain largely out of reach for the Batswana economy. De Beers committed to investing in local "downstream"

Botswana has finalized a new 10-year, 25-year mining licence agreement with De Beers, aiming to boost its share of rough diamonds through Okavango Diamond Company to 50% by 2035. While the agreement strengthens local control and extends mining operations to 2054, the country still navigates an economic slump driven by falling diamond sales and rising inventory. For more details, visit De Beers Group AI responses may include mistakes. Learn more For more details, visit De Beers Group AI

While De Beers has helped build roads and schools, critics argue the partnership failed to industrialize the country early enough. Now, with mines getting deeper and more expensive to operate (transitioning from open-pit to underground mining), the profit margins are thinning. The government is racing against time to use diamond revenue to build a knowledge-based economy before the pits run dry or the market disappears. Conclusion For more details

The biggest argument for the "raw deal" theory isn't necessarily De Beers' greed, but the timing of the market. Botswana is fighting for a larger share of a natural diamond market that is facing an existential crisis from Lab-Grown Diamonds (LGDs).