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De Beers transfers $75 million to Botswana amid diamond industry shift
Original: De Beers transfers $75 million to Botswana as diamond economy searches for life beyond mining
De Beers has transferred $75 million to Botswana as the country's diamond-dependent economy looks for growth beyond mining. The payment reflects ongoing renegotiations between the government and the diamond giant over revenue sharing, while Botswana works to diversify an economy that has long relied on diamond exports facing weakening global demand.
Why now: Botswana's heavy dependence on diamonds and strained negotiations with De Beers make the payment a signal of the country's economic diversification push.
Evidence
- De Beers transfers $75 million to Botswana as diamond economy searches for life beyond mining · Business Insider Africa
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