An interim sales agreement is in place until the new pact is finalised, the two partners said in a statement. "The transformational new agreements between Botswana and De Beers reflect the aspirations of the people of Botswana, propels both Botswana and De Beers forward, and underpins the future of their Debswana joint venture through long-term investment," the statement said. Botswana, the world's second largest diamond producer after Russia by output, supplies 70% of De Beers' rough diamonds. Diamond sales, almost entirely from Debswana, account for two-thirds of Botswana's foreign currency receipts and a fifth of its gross domestic product. Debswana's diamond sales hit a record $4.6 billion last year, compared to $3.5 billion in 2021.

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Persons: De Beers, Lefoko Moagi, Debswana, De, Okavango Diamond, Mokgweetsi Masisi, Masisi, Felix Njini, Nelson Banya, Edwina Gibbs Organizations: Botswana Mines, De Beers, De, HB Antwerp, Thomson Locations: Botswana, Russia, Nairobi, Harare, Nilutpal