Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News Jun 2026

De Beers, now majority-owned by Anglo American, is resisting. They argue that the global diamond market is fragile. They claim that flooding a landlocked country with rough stones that cannot be sold for top dollar would destroy value. Privately, industry insiders admit that De Beers is terrified of a precedent. If Botswana takes control of its own supply, what stops Canada, South Africa, or Namibia from doing the same?

Furthermore, the threat of depletion hangs over any mining-dependent nation. While Botswana’s mines have decades of life left, they are becoming deeper and more expensive to operate. The true measure of whether Botswana secured a good deal from De Beers will not just be the percentage of rough diamonds it receives today, but how effectively the government reinvests those current diamond revenues into building a sustainable, knowledge-based economy for tomorrow.

On paper, that is true. Debswana mines the diamonds. But here lies the rub: De Beers controls the sight . For decades, virtually all of Botswana’s rough diamonds were sold exclusively through De Beers’ London-based sales arm. Botswana got 50% of the mining profits, but De Beers captured the margin on sorting, valuing, and global distribution. De Beers, now majority-owned by Anglo American, is resisting

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Botswana is one of the world's largest producers of diamonds, with De Beers' Jwaneng mine being one of the richest diamond mines in the world. The country's diamond industry accounts for around 80% of its exports and has contributed significantly to its economic growth. However, the revenue generated from diamond mining has not always been evenly distributed, with some arguing that Botswana has been getting a raw deal.

Is Botswana getting a raw deal? The answer is nuanced. Compared to other mineral-rich nations in Africa, Botswana has secured an exceptionally favorable arrangement. However, in the context of modern ESG standards and the rise of synthetic competitors, the "old" way of doing business is no longer enough. While Botswana’s mines have decades of life left,

Is Botswana getting a raw deal? In the strictest financial sense regarding value addition and downstream integration, the answer has historically been yes . The nation has been a passive supplier of raw wealth rather than an active participant in the luxury market.

Compounding the issue is the corporate instability surrounding De Beers' parent company, Anglo American. Amid corporate restructuring and cost-cutting pressures, Anglo American has actively explored selling or spinning off De Beers. A change in corporate ownership adds an layer of volatility for Botswana, which relies on De Beers' massive marketing budget to sustain global consumer demand for natural luxury diamonds. The Verdict: Raw Deal or Realpolitik?