De Beers committed to investing in local "downstream" activities like cutting, polishing, and jewelry manufacturing.
In February 2025, after seven years of tense negotiations, the two parties finally signed a transformational new 10-year sales agreement and a 25-year extension of mining licenses. While officials celebrate this "groundbreaking" deal, the underlying economic pressures and shifting power dynamics suggest a more complex reality. The Evolution of the Deal: From 25% to 50% De Beers committed to investing in local "downstream"