Anglo American Says De Beers, Botswana Extend Debswana Sales Agreement, Mining Licenses

   By Elena Vardon

Anglo American on Monday said its majority-owned De Beers Group and Botswana's government agreed on principle on a new 10-year sales pact for the rough-diamond production of their joint venture Debswana.

The FTSE 100 diversified mining company said the agreement, which covers the production from the four diamond mines that Debswana operates in Botswana, is through 2033 and also includes a 25-year extension of its mining licences through 2054.

De Beers and the government of Botswana said they will work together to progress and implement the agreements. The terms of the most recent sales agreement--expired on June 30--will remain in place in the interim, they added.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

July 03, 2023 02:28 ET (06:28 GMT)

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