LONDON (dpa-AFX) - Mining company Anglo American plc (AAL.L, AAUKY.PK) announced on Monday that its unit De Beers Group and the Republic of Botswana have agreed on a 10-year sales agreement for Debswana's rough diamond production till 2033. The deal also includes a 25-year extension of the Debswana mining licenses till 2054.
In a 50:50 joint venture between De Beers and the Botswana Government, Debswana operates four diamond mines in Botswana.
The Botswana government and De Beers will work together to implement the new sales agreement and mining licenses, until then the most recent sales agreement which expired on June 30 will be in force.
Both Anglo American and the Government of Botswana are shareholders in De Beers, and the new sales agreement will be subject to approval by Anglo American's shareholders in due course.
On Friday, shares of Anglo American closed at 2,233 pence, down 0.04% or 1 pence on the London Stock Exchange.
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