Linklaters has advised De Beers on the successful completion of its negotiations with the Government of Botswana to secure an extension of the Botswana diamond mining licences through to 2054 for their 50:50 mining joint venture, Debswana, and a new 10-year sales and marketing agreement for Debswana’s rough diamond production.

The partnership between the Government of Botswana and De Beers is one of the most enduring public-private partnerships in the world, lasting more than 50 years and focused on the responsible recovery, marketing and sale of diamonds. Its renewal is centred on ensuring the sustainability of the global diamond industry and supporting Botswana’s economic development objectives. A cornerstone of the new deal is the creation by De Beers of the Diamonds for Development Fund to support economic growth and diversification in Botswana.

The 25-year extension of Debswana’s mining licences will enable Debswana to deliver long-term value from its existing mining assets and mine life extension projects through to 2054. The new sales and marketing agreement, which may be extended for an additional 5 years subject to certain conditions, includes a package of commitments to be undertaken by De Beers which are designed to enhance local beneficiation of diamonds and increase participation of the people of Botswana in all aspects of the diamond value chain.

Formal agreements for the renewed partnership were signed on 25 February 2025 in Gaborone, Botswana in what has been a landmark transaction for the parties and the global diamond industry.

The Linklaters team was led by Global Head of Corporate, Simon Branigan and Corporate Partner, Katharine Collard.