Diamonds Fundamental To Botswana Economy

Financial Times reported diamond mining in Botswana is more than a hobby, it’s fundamental to life.

As quoted in the market news:

In a world where diamonds are usually regarded as luxuries, their value to the people of Botswana is more fundamental. Income from mining and selling the precious stones accounts for about a third of the African country’s gross domestic product and 70-80 per cent of its export earnings.

So when the government of Botswana asked Slaughter and May to advise on renegotiating its contract with De Beers, the world’s biggest diamond seller, it was clear that the law firm’s role would be central to the nation’s prosperity.