Botswana’s deal with HB Antwerp could reportedly end its longtime partnership with the South African firm
Botswana will take a 24% stake in Belgian gem trader HB Antwerp, the country’s President Mokgweetsi Masisi stated on Monday, according to Bloomberg. The move could reportedly challenge the country’s decades-old agreement with South African diamond giant De Beers.
Masisi said that Botswana’s state gem trader will supply HB Antwerp with the precious stones for five years.
The announcement comes as the Southern African nation has been negotiating a new agreement with De Beers under which most of the country’s gems would be mined by a joint venture with the government and sold by De Beers. However, Masisi reportedly threatened to walk away from the talks and praised how HB Antwerp handles the diamonds extracted at Botswana’s Karowe Mine, which is owned by Canadian mining company Lucara Diamond.
Masisi has previously warned that his country…
