Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News |verified|

Critics argue that De Beers is resisting this shift because it undermines their market dominance. They point to the fact that while Botswana produces the diamonds, the true wealth—the branding, the retail markup, and the high-tech cutting—still occurs in Europe, Israel, and India. Botswana is left with the holes in the ground and the environmental cleanup, while the sparkle enriches other economies.

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. Critics argue that De Beers is resisting this

To understand the current discontent, one must look back to 1967. Botswana had just gained independence; it was one of the poorest nations on Earth, with barely ten miles of paved road. The discovery of the Orapa pipe, one of the world’s richest diamond deposits, changed everything. For decades, the partnership between Botswana and De