Is Botswana getting a raw deal? Perhaps the better question is:
If Masisi gets his way, we may soon see "Made in Botswana" on engagement rings. If he fails, Botswana risks remaining the world’s most elegant quarry—rich in stone, but poor in power.
For decades, the partnership between Botswana and De Beers has been held up as the gold standard (or should we say, diamond standard) of resource extraction. Unlike the "resource curse" that plagues so many African nations, Botswana used its gemstones to build schools, roads, and a stable middle class. Is Botswana getting a raw deal
By [Your Name/The World News Staff]
When a diamond is pulled from the Kalahari desert, it is worth $X. After it is cut in Surat (India) and set in a ring in New York, it is worth $10X. Botswana currently captures very little of that $10X. They provide the raw material but don't own the brand. For decades, the partnership between Botswana and De
Furthermore, De Beers’ famous marketing campaign—"A Diamond is Forever"—primarily benefits the retailer and the cutter. Botswana argues it is time for the miner to be paid like a partner, not a serf. De Beers counters that the relationship is already the fairest in the industry. They argue that without their marketing genius and global distribution network, Botswana’s diamonds would be worthless commodities.
But as the global diamond market cracks under pressure—synthetic stones, lab-grown alternatives, and a post-pandemic slump in romance—a tense question is emerging from Gaborone: The 50/50 illusion Legally, Botswana and De Beers have a 50/50 partnership in Debswana, the mining giant that digs up roughly 20% of the world’s diamonds by value. On paper, this is equality. In practice, critics argue it is a feudal arrangement dressed in modern suits. After it is cut in Surat (India) and
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