Botswana and De Beers Renew Partnership


December 20, 2004

Botswana and De Beers Renew Partnership

The Government of the Republic of Botswana and De Beers will renew their partnership for 25 years, dating from Aug. 1, 2004. This includes the licenses to operate the Jwaneng, Orapa, Damtshaa and Letlhakane mines in Botswana.

Botswana and De Beers have also agreed that the effective 15% holding of the equity of DB Investments previously owned by Debswana will be ceded to and directly owned by the government of Botswana.

"The renewal of the Jwaneng mining license and the extensions of the Orapa, Damtshaa and Letlhakane mining licenses mark the longterm continuation of the unique and important partnership between the Government of the Republic of Botswana and De Beers," the partners said in a statement released Dec. 20.



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