Advertisement
Singapore markets closed

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Bitcoin USD

    63,977.55
    -2,643.14 (-3.97%)
     

  • CMC Crypto 200

    1,357.89
    -24.69 (-1.79%)
     

  • FTSE 100

    8,103.21
    +62.83 (+0.78%)
     

  • Gold

    2,338.50
    +0.10 (+0.00%)
     

  • Crude Oil

    83.22
    +0.41 (+0.50%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

De Beers, Botswana extend diamond sales deal by a year

Reuters
Updated ·1-min read
A worker arrives at the Jwaneng diamond mine

(Reuters) - De Beers Group said on Wednesday that it had agreed with the government of Botswana to extend by one year an agreement for the sale of rough diamonds from their joint venture, Debswana.

The 2011 rough diamond sales agreement in which the venture sells 75% of its output to De Beers was set to expire in 2020, but was extended for a year till last December and then again for six more months.

The Anglo American unit said in a statement that the parties had agreed to the one-year extension to enable the finalisation of discussions towards a new agreement.

Diamond sales account for a large share of Botswana's foreign currency earnings.

ADVERTISEMENT

The extension of the agreement for the sale of Debswana's diamond output runs until June 30, 2023.

(Reporting by Bhargav Acharya and Aby Jose Koilparambil in Bengaluru; Editing by Alexander Winning)