Botswana lacks the independent capacity to verify if it is getting true market value.
and De Beers was hailed as the ultimate success story in African mining Botswana lacks the independent capacity to verify if
De Beers argues the partnership remains "the most successful resource-based partnership in history." A spokesperson in London told The World News : "Botswana has received over $6 billion in dividends and royalties. We have built hospitals, roads, and a diamond hub in Gaborone. The idea of a raw deal is simply not factual." The idea of a raw deal is simply not factual
Botswana and De Beers recently renegotiated their agreement. Key wins for Botswana include: and a diamond hub in Gaborone.
The current agreement allows De Beers to market the majority of Debswana’s production. The government has argued that the fees and royalties they receive do not reflect the true market value of the stones, especially as De Beers rebrands itself towards "ethical" and "conflict-free" diamonds. Botswana’s President Mokgweetsi Masisi has been vocal about this, suggesting that Botswana deserves a larger share of the pie because the diamonds are the foundation of De Beers' global reputation.