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Government of the Republic of Botswana And De Beers Group Confirm Diamond Partnership For The Next Generation

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1 year ago

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Transformational agreements boost Botswana’s economic development potential and secure De Beers’ long-term share in world’s greatest diamond resources

HONG KONG SAR – Media OutReach Newswire – 27 February 2025 – The Government of the Republic of Botswana (the “Government of Botswana”) and De Beers Group (“De Beers”) announced that, following the conclusion of negotiations announced on 3 February 2025, the two partners have now signed the formal new agreements for a 10-year Sales Agreement (which may be extended by a further 5 years) and a 25-year extension of the Mining Licences (from 2029 through to 2054) for the 50:50 Debswana mining joint venture.

Honourable Bogolo Joy Kenewendo, Minister of Minerals and Energy for Botswana, said: “We are proud to announce the signing of this landmark new agreement, which will underpin the success of our diamond industry as we enter an exciting new phase of Botswana’s sustainable economic development. We hope that these agreements will bring some level of stability and rebuild market confidence in the diamond industry. We are looking forward to our renewed partnership with De Beers; together we will drive development through diamonds and build a brighter future for Batswana.”

Al Cook, Chief Executive Officer of De Beers Group, said: “These are groundbreaking agreements. The half-century partnership between the Government of Botswana and De Beers is considered the greatest public-private partnership in the world. Now we are both extending and improving it. For De Beers, it is a privilege to secure our ongoing participation in the world’s greatest diamond resources for decades to come. I am also extremely proud that through the Diamonds for Development Fund, we can further transform opportunities for the people of the world’s leading diamond country.”

In summary, the formal agreements represent:

  • A 25-year extension of the Debswana mining licences from August 2029 to July 2054. This will enable the Debswana joint venture to deliver long-term value from its existing mining assets and mine life extension projects beyond the current mining licence period. Mine life extension projects include Jwaneng Cut-9, Jwaneng Underground and Orapa Cut-3.
  • A renewed 10-year Sales Agreement for Debswana’s rough diamond production, with a further five-year extension period where certain criteria are met. Under the renewed Sales Agreement, the Government of Botswana’s rough diamond sales company, Okavango Diamond Company (“ODC”), will sell 30% and De Beers will sell 70% of Debswana’s production for the first five years; for the subsequent five years ODC will sell 40% and De Beers will sell 60% of Debswana’s production; and both parties will sell a 50% share for the five-year extension period. As part of this arrangement, De Beers and ODC have also both committed to supply diamonds for beneficiation in Botswana in line with their share of Debswana supply.

In addition, a transformational package of commitments focused on supporting Botswana’s economic development objectives and advancement of the diamond industry has been agreed, including:

  • The creation of the Diamonds for Development Fund to support economic growth, diversification and jobs in Botswana in line with Botswana’s Vision 2036 and National Development Plan. De Beers has committed to an upfront investment of BWP 1 billion (c. $75 million) and further annual contributions from its dividends from Debswana, based on Debswana’s performance.
  • A package of initiatives to be undertaken by De Beers designed to enhance local beneficiation of diamonds and increase participation of the people of Botswana in the diamond industry. These include investment in a diamond jewellery manufacturing facility, establishment of a De Beers Institute of Diamonds grading laboratory and starting up a diamond vocational training institute in collaboration with industry partners.
  • Co-investment by the Government of Botswana and De Beers in marketing initiatives to boost diamond demand. The marketing investments will be for category and other marketing programmes, agreed annually, aimed at stimulating rough diamond sales, protecting the ethical integrity of diamonds, and to maintain and build consumer confidence in the product. De Beers and the Government of Botswana have committed to co-invest over the life of the Sales Agreement and in proportion to their relative shares of Debswana supply.

Hashtag: #DeBeersGroup #Debswana #Botswana





The issuer is solely responsible for the content of this announcement.

About Botswana

Botswana, a thriving democracy, is located in Southern Africa. It is the topmost producer of diamonds by value. Botswana is renowned for the rule of law, including respect for property rights. Heralded for its ease of doing business in the mining sector, it is by no coincidence that it is a premier investment destination for mining.

The Botswana government has placed a strong emphasis on effective management of its diamond resources, recognizing their pivotal role in the nation’s economic development. By exercising careful oversight and strategic partnerships, Botswana maximises revenue from diamond sales, strengthening its position as a key player in the global diamond market and ensuring that these valuable resources drive sustainable socio-economic growth. With a focus on sustainable practices, the government is dedicated to ensuring that the wealth generated from diamond mining contributes significantly to the welfare of its citizens. Revenue from these sales is strategically reinvested to foster growth, infrastructure development, and social programmes, ultimately positioning Botswana as a stable and prosperous socio-economic hub in the region. This commitment underscores the government’s vision of enhancing the livelihoods of its people while promoting overall national prosperity, thereby solidifying Botswana’s reputation as a forward-thinking and resilient nation in the face of global economic challenges.

About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services and a wide range of diamond sorting, detection and classification technology services. De Beers Group is committed to ‘,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit .

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Survey: AI Investment Boom in Asia Pacific Fuelled More by Fear of Missing Out Than Actual Results

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20 hours ago

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12/06/2026

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SINGAPORE – Media OutReach Newswire – 12 June 2026 – Enterprise AI spending is climbing rapidly, with boards racing to deploy the technology faster than they can measure whether it works. According to the latest IDC InfoBrief, commissioned by Expereo*, around 70% of organizations are investing in AI, motivated by its potential or by the fear of falling behind the competition, but they lag in disciplined ROI evaluation, and one in five (20%) admit they are investing aggressively in AI with little evaluation, driven by the fear of being left behind.

In Asia Pacific (APAC), that pressure is even more pronounced as 37% of organizations admit investing aggressively with little evaluation – nearly double the global average, and well ahead of the US (10%) and Europe (13%). The pressure is most acute in Australia (45%) and Vietnam (44%), while in Singapore, more than one in three organizations admit the same.
The IDC InfoBrief, based on a survey of 800 technology leaders across APAC, Europe, and the US, found that AI has become one of the most prioritized technology investments globally, with 51% of organizations planning to prioritize AI or machine learning investment over the next 12 months – rising to 61% across APAC. However, returns are failing to keep pace with the hype. Just 19% of global organizations surveyed say their AI implementations have exceeded expectations, and only 5% report they have significantly exceeded them1.
Across APAC, 40% say implementations have exceeded or significantly exceeded expectations – ahead of the global average but still leaving the majority falling short. Globally, the most-cited reasons for underperformance are inadequate or poor-quality training data (51%), higher-than-expected costs or ROI not achieved (47%), and AI not performing as well as expected (46%). For APAC specifically, the picture is broadly similar – though costs bite harder: 49% cite poor-quality training data, 54% cite cost overruns or ROI not achieved (rising to 80% in Malaysia), and 46% say AI has simply not performed as expected.
Where organizations have the right foundations in place, the results speak for themselves. Across APAC, 87% report productivity improvements in the business units most affected by AI, and 82% say quality of work has improved.

Underpinning many of these challenges is also a network and infrastructure readiness gap. Globally, 26% of organizations whose AI implementations have failed to meet expectations cite inadequate network or connectivity performance as a contributing factor. Looking ahead, 54% of organizations say they need more flexible and scalable networks to thrive in an AI-driven environment, and 51% need greater resilience and reliability to maximize uptime2. In APAC, the gap is acute as only 9% of organizations describe their network infrastructure as fully ready to support new AI, cloud, and digital initiatives, and 37% say it will need upgrading or replacing soon. The need is most acute in Thailand (74%) and Singapore (58%), both of which rank above the regional average on demand for flexible, scalable networks. In Indonesia, nearly half of all organizations (48%) say their infrastructure will need upgrading or replacing soon.

Ben Elms, CEO, Expereo, says: “Every enterprise we speak to is investing in AI, yet the data shows a clear gap opening up between AI ambition and AI outcomes. More often than not, that gap comes down to the network underneath. AI only delivers on its promise when the infrastructure carrying it is built to support it.
Without resilient, scalable, cloud-optimized networks, even the most well-funded AI programs will struggle to deliver ROI. Getting the network right is no longer an IT decision; it is one of the most important conversations happening in the boardroom today to help fulfill AI ambition.”
APAC is also leading on adoption, with 35% of organizations reporting extensive AI use across the business, against a global average of 25%3. Yet adoption alone is not enough without the right foundations beneath it.
Eric Wong, President, APAC, Expereo, says: “Asia Pacific is moving aggressively on AI adoption, but many organizations are discovering that scaling AI successfully requires more than just investment in applications and models. The underlying network, cloud connectivity, and operational readiness matter just as much. Across the region, we are seeing enterprises reassess whether their infrastructure is truly ready to support AI at scale, particularly around performance, resilience, governance, and visibility. Organizations that address those foundations early are generally seeing stronger outcomes and faster operational impact from their AI initiatives.”
Boardrooms are also waking up to the longer-term risks of unchecked AI investment. According to the survey, 54% of global tech leaders cite the creation of new security risks as a significant potential future threat for their organization’s use of AI, while 39% globally are concerned about losing track of AI-related costs and ROI once the technology is embedded across the business4. In APAC, that concern is sharper still as 41% of technology leaders in the region are worried about losing oversight of AI-related costs and ROI as adoption deepens – a figure that rises to 54% in Malaysia. Digital sovereignty is also moving up the strategic agenda, with 38% of APAC organizations rating it a high or top priority as they look to retain control over data and navigate an increasingly complex regulatory landscape.
For the full IDC InfoBrief, commissioned by Expereo, “Enterprise Horizons 2026: Where Innovation Meets Reality“ (doc #EUR154457526-IB, May 2026) please visit: [LINK]

Hashtag: #Expereo, #Network, #ArtificialIntelligence, #AI, #Technology, #AIInvestment

The issuer is solely responsible for the content of this announcement.

Expereo

Expereo is a world-leading Managed Network as a Service provider that connects people, places, and things anywhere. Solutions include Global Internet, SD-WAN/SASE, and Enhanced Internet. With an extensive global reach, Expereo is the trusted partner of 60% of Fortune 500 companies. It powers enterprise and government sites in more than 190 countries, with the ability to connect to any location worldwide, working with over 2,300 partners to help customers improve productivity and empowering their networks and cloud services with the agility, flexibility, and value of the Internet, with optimal network performance.

Expereo was acquired in Feb 2021, by Vitruvian Partners which acquired a majority shareholding from Seven2.

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Taylor Swift Wax Figure Arrives in Singapore for Limited-Time

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21 hours ago

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12/06/2026

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Following last summer’s historic global launch of 13 Taylor Swift wax figures across four continents, one of the world’s most celebrated icons is now making a dazzling limited-time stop at Madame Tussauds Singapore.

SINGAPORE – Media OutReach Newswire – 12 June 2026 – In news guaranteed to send Swifties into a frenzy, Madame Tussauds Singapore today announces the arrival of its touring Taylor Swift wax figure, inviting fans to feel as if they’ve stepped on stage at Taylor Swift | The Eras Tour.

Taylor Swift Wax Figure

Originally launched as part of Madame Tussauds’ biggest figure release in its 250-year history, this Taylor Swift wax figures celebrates the Lover era, showcasing the look that became the post image for the Taylor Swift | The Eras Tour concert film. The figure is dressed in a replica of the pink, blue and silver embellished Versace leotard. The look is completed with mesmerising, hand-applied strass Christian Louboutin knee-high boots, donated by the Maison, and bespoke embellished microphone created by Rebel Stage Gear UK, the specialist customisation company behind the original microphones Taylor used during the tour.

The campaign will run from 26 June to 27 September 2026. Designed as the ultimate fan celebration, it combines interactive experiences, limited-time activities and social moments inspired by Taylor Swift as one of the most influential and enduring artists of the 21st century.

Guests can enjoy an exclusive online promotion from 26 June to 12 July 2026, with 20% off tickets using promo code TAYLOR20; fans can also participate in a special social media giveaway activity following Madame Tussauds Singapore’s Instagram account to win two pairs of attraction tickets.

Inside the attraction, Swifties will have the opportunity to fully immerse themselves in the experience through a series of themed activities, including:

  • DIY Friendship Bracelet Booth (26 June to 12 July) – All ticket holders can create their own friendship bracelets inspired by the fan-favourite tradition made famous during The Eras Tour. Available while stocks last.
  • Concert-Inspired Photo Props – Strike a pose with our exclusive concert-style blazer photo props for the ultimate concert-style photo moment.
  • “Show Us Your Era” Challenge (26 June to 31 July) – Guests who take a photo with Taylor Swift wax figure, post it on social media and tag Madame Tussauds Singapore with #MadameTussaudsSG #MTSG will receive a free gift onsite, limited to the first 100 participants only.

Friendship Bracelet
Friendship Bracelet

Steven Chung, General Manager of Madame Tussauds Singapore said: “Last year’s global Taylor Swift figure launch became a cultural moment in itself, and we’re thrilled to bring one to Singapore. This summer, we welcome all Swifties to celebrate the joy, nostalgia and connection Taylor Swift has created for millions of fans around the world at Madame Tussauds Singapore.”

The Taylor Swift touring figure will be available exclusively at Madame Tussauds Singapore from 26 June to 27 September 2026. For this limited time only, Swifties in Singapore will have the rare opportunity to step into one of her most iconic eras and create unforgettable moments of their own.

Madame Tussauds Singapore continues to bring fans closer to the world’s biggest stars through immersive and interactive celebrity experiences, creating unforgettable memories for guests of all ages. For more information, please visit www.madametussauds.com/singapore/
Hashtag: #MerlinEntertainments #MadameTussaudsSingapore

The issuer is solely responsible for the content of this announcement.

Madame Tussauds Singapore

Madame Tussauds has been inviting people to walk the red carpet and get closer to the revered – and feared – for over 250 years. With 22 attractions in the world’s top destination cities, we are dedicated to giving millions of visitors the opportunity to mingle with the mighty from A-listers to music legends, heroes of sport, to infamous world leaders. Today, we continue to partner with the global icons of a generation to create astonishing lifelike figures from sittings and offer exciting and interactive experiences to ensure guests have never felt closer to fame.

About Merlin Entertainments
Merlin Entertainments is a world leader in branded entertainment destinations, offering a diverse portfolio of resort theme parks, city-centre gateway attractions and LEGOLAND Resorts which span across UK, US, Western Europe, China and Asia Pacific. Dedicated to creating experiences that inspire joy and connection, Merlin welcomes more than 62 million guests annually to its growing estate, with over 140 sites across 23 countries. An expert in bringing world-famous entertainment brands to life, Merlin works with partners including the LEGO Group, Sony Pictures Entertainment, Peppa Pig, Dreamworks and Ferrari to create destinations where guests can immerse themselves in a wide array of brand-driven worlds, rides, and uplifting learning experiences. See for more information.

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AIVA Launches a Pioneering, New Model for AI Vehicle Industry

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1 day ago

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11/06/2026

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BEIJING, CHINA – Media OutReach Newswire – 11 June 2026 – AIVA, an AI-native mobility brand, was officially unveiled in Beijing on 9 June 2026.

AIVA will collaborate with Volcano Engine, ByteDance’s cloud and AI platform, to jointly define, design, and develop a new generation of AI vehicles. Volcano Engine will provide AIVA with advanced capabilities, including the Doubao AI Foundation Model and intelligent cockpit, enabling smarter in-vehicle interactions.

At the launch event, AIVA unveiled its brand name and logo, introducing a development philosophy centered on “AI-first vehicle creation”—where AI comes before the car itself. It is believed that AI-native vehicles will fundamentally redefine the relationship between people and automobiles. AIVA also showcased the AIVA Origin Concept, while AIVA ME7, its first mass-production model, is scheduled to debut in 2026. The AIVA lineup will target the mainstream market segment priced above RMB 200,000.

AIVA, short for Artificial Intelligence Voyage Ahead, reflects the brand’s vision of AI accompanying users on every journey toward the future. Built around AI-native mobility, AIVA aims to create embodied AI companions powered by advanced intelligence, transforming vehicles from mere transportation tools into trusted partners that understand, accompany, and serve their users.

When AI is deeply integrated into the vehicle, users no longer need to navigate complex menus. Instead, AI operates around human intent, making the interaction intuitive and direct. By understanding real-time context and user preferences, it can proactively anticipate needs and coordinate vehicle capabilities, delivering a more natural, personalized mobility experience.

As an independently operated company backed by a powerful alliance of strategic shareholders, AIVA will oversee brand development, product strategy, and business operations. SERES Group, as a key shareholder and industrial partner, will provide expertise in vehicle manufacturing and supply chain management. CATL will contribute comprehensive battery solutions. Shaci Zhiyuan, a strategic institutional investor, will provide industrial resource support.

Looking ahead, AIVA will broaden its product lineup through rapid innovation and iteration. By focusing on AI-powered interaction, intelligent experiences, emotional companionship, and safety-centered care, AIVA is committed to creating vehicles that not only move people, but understand them, unlocking a new era of intelligent mobility.
Hashtag: #AIVA

The issuer is solely responsible for the content of this announcement.

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