The clash between De Beers’ diamond aggregation business model and Botswana’s drive to brand its diamonds as “Botswana diamonds” is expected to escalate in the next four weeks leading to the June 30th negotiation deadline.
This follows fears that Botswana diamonds may be tainted by last week’s revelations that De Beers has been selling Russian diamonds in America despite sanctions after Ukraine invasion.
Among the many contentious issues in the ongoing sales agreement negotiations is a demand by Botswana to have its diamonds set apart from the De Beers aggregation and marketed as Botswana diamonds instead of De Beers diamonds, a move that will upend the De Beers decade long business model of aggregation.
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