Some of the world's biggest diamonds have been unearthed there in recent years
Botswana has signed a revised deal with mining giant De Beers, that will see the country's share in diamond production increase from 25% to 50% within the next decade.
The Southern African nation is the world's biggest producer of diamonds and De Beers has been under pressure from falling prices and growing competition, says the Reuters news agency.
The two parties - jointly known as Debswana - have also agreed a 25-year extension to DeBeers' mining licences.
In a joint statement announcing the deal on Friday, they said it "reflects the aspirations of the people of Botswana" and "propels both Botswana and De Beers forward".
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Will Ghana’s democracy stand the test of time in the 2024 elections?
2 hours -
Hindsight: Dreams fairytale run proved one thing; it is possible
3 hours -
God makes rulers, not you; you can’t choose your successor – Mahama to Akufo-Addo
4 hours -
Contributors own SSNIT, they must decide who becomes its Director-General – Austin Gamey
5 hours -
Move away from theory-based learning towards practical learning approaches – AUCC President to students
5 hours -
Haaland scores as Manchester City beat Nottingham Forest
6 hours -
Villas-Boas elected Porto president
6 hours -
Situation on frontline has worsened, Ukraine army chief says
6 hours -
US doctor describes witnessing starvation in northern Gaza
6 hours -
CAFCC: RS Berkane make final after USM Alger refused to play 2nd leg over Moroccans’ jersey
6 hours -
Elon Musk in China to discuss enabling full self driving
7 hours -
PSG clinch Ligue 1 title after Lyon’s win over Monaco
9 hours -
Guinness Ghana sets the pace at Ghana Beverage Awards with six awards
9 hours -
Burkina Faso suspends BBC, VOA radio broadcasts over killings coverage
9 hours -
Nicole Kidman honoured with AFI Life Achievement Award
9 hours