De Beers finalises negotiations with the Botswana government

Botswana has finalized negotiations with the Botswana government, securing a groundbreaking deal with De Beers. CNBC Africa's Fifi Peters caught up with Bogolo Joy Kenewendo, Minister of Minerals and Energy of Botswana at the 31st Investing in African Mining Indaba in Cape Town. During the interview, Kenewendo discussed the importance of a unified African stance on mineral trade, emphasizing the need for a pan-African strategy to navigate critical materials' demand. She highlighted the continent's rich resources and the potential for value addition and job creation through strategic partnerships. The Minister also addressed the challenges and opportunities in Botswana's mining sector, particularly focusing on diamonds and base metals. The recent agreement with De Beers includes principles outlined during former President Masisi's tenure, with additional provisions such as showcasing Botswana diamonds globally and an investment in a Diamond for Development Fund to empower young entrepreneurs. Kenewendo also touched on the potential impact of Anglo American's restructuring on the deal, emphasizing the importance of finding a partner aligned with Botswana's values to ensure the sustainability and growth of De Beers. The agreement is set to be finalized by the end of the month, marking a significant milestone in Botswana's efforts to leverage its mineral wealth for economic development.