Government of the Republic of Botswana - New 10 year agreement with De Beers in relation to Debswana’s diamond production

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Slaughter and May, working closely with the Government Negotiating Team, advised the Government of the Republic of Botswana in relation to its new 10 year agreement with De Beers for the sorting, valuing, marketing and sales of Debswana’s diamond production. Debswana is a 50:50 joint venture between the Botswana Government and De Beers.

As part of the agreement, De Beers will transfer its London-based rough diamond sales activity to Botswana.  The agreement, which commences from 01 January 2011, is the longest sales contract ever agreed between the two partners. It will see the Diamond Trading Company relocate its sights and sales operations from London to Gaborone by the end of 2013. In addition, the agreement provides for an independent sales outlet for the Botswana Government, which will begin this year at 10% of Debswana’s run of mine production and rise to 15% over a five year period

Corporate and M&A: Nigel Boardman (partner), Hon Weng Wong (associate), Louise Campbell (associate), Sarah Glasser (associate), Mark Boullé (associate); Competition: Isabel Taylor (partner), Mariko Tavernier (associate)