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

Some of the things that can be done for Botswana to get a fair deal from De Beers include

One of the main concerns is that De Beers has a significant amount of control over the diamond market, which allows the company to dictate prices and production levels. This can result in Botswana getting a lower price for its diamonds than it would if it were able to sell them on the open market. Some of the things that can be done

For example, in 2020, De Beers paid around $1.2 billion in royalties to the Botswana government, which works out to around 10% of the total value of diamonds mined in the country. In contrast, other diamond-producing countries like Canada and Australia require companies to pay royalties of up to 20% of the total value of diamonds mined. The company’s mining activities have been linked to

The government has also been exploring alternative partnerships with other diamond companies, including the Chinese state-owned company, China National Petroleum Corporation (CNPC). and displacement of local communities. However

Furthermore, critics argue that De Beers’ presence in Botswana has also had negative social and environmental impacts. The company’s mining activities have been linked to water pollution, deforestation, and displacement of local communities.

However, De Beers has argued that it has always been a responsible partner in Botswana and has contributed significantly to the country’s economic development. The company has also pointed out that it has invested heavily in social and environmental programs in the country, including education and healthcare initiatives.