Botswana Deal Will Keep De Beers on Top

De Beers is again in the driver's seat in Botswana, the world's largest diamond producer—which means the company will likely be the dominant force in the diamond industry for years to come. De Beers and Botswana's government just inked a deal that gives De Beers leases to the country's main diamond mines for the next 25 years. Marketing was not covered in the press announcement, but De Beers spokeswoman Lynette Hori says the country's diamonds will continue to be sold through the Diamond Trading Company. Botswana produces an estimated 25% of the world's diamonds by value and is seen as the backbone of De Beers' empire, producing 70% of the company's diamonds by volume. Yet in a gesture that shows the increasing importance of African governments in the diamond industry, the government of Botswana also has gained a lot more control of De Beers. Previously, Debswana, the joint De
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