Botswana’s President Challenges De Beers for Greater Control of the Diamond Industry

Botswana’s escalating challenge to De Beers marks a defining moment in the global diamond sector, as resource-rich nations increasingly pursue greater control over their natural assets. The long-standing model where multinational mining firms oversee operations while host nations receive royalties is now being reshaped by state-driven strategies aimed at securing a larger share of the value chain.

This shift reflects a broader geopolitical trend, with emerging economies seeking vertical integration across critical mineral supply chains. By moving beyond extraction and into cutting, polishing, and distribution, countries like Botswana are positioning themselves to capture more of the downstream value traditionally dominated by international corporations.

---

What Is Driving Resource Sovereignty in Diamond-Producing Nations?

At the core of this movement is a clear economic reality: controlling extraction alone limits long-term wealth creation. In the diamond industry, mining accounts for just 15–20% of the final retail value, while the remaining 80–85% is generated through downstream activities such as processing, branding, and retail distribution.

Governments across Africa are increasingly aware of this imbalance and are taking steps to address it. The push for resource sovereignty is not only about increasing revenue, but also about building sustainable, locally anchored industries that create employment and long-term economic resilience.

---

The Economics of Vertical Integration

Botswana’s ongoing negotiations highlight the financial logic behind vertical integration. The current bid process for a significant stake in De Beers represents a strategic opportunity to restructure ownership and maximise national returns.

A breakdown of the diamond value chain illustrates the potential:

• Upstream mining: 15–20% of total value
• Midstream processing and sorting: 25–30%
• Downstream distribution and retail: 45–55%
• Branding and marketing premiums: 10–15%

By expanding into these higher-margin segments, producing nations can significantly enhance revenue capture and reduce reliance on external operators.

A comparable long-term strategy can be seen in Government Pension Fund Global, which transformed oil revenues into a globally diversified investment portfolio demonstrating how resource wealth can be leveraged beyond commodity cycles.

---

Geopolitical Implications of Resource Control

Beyond economics, control over diamond resources provides substantial geopolitical leverage. Botswana’s reported engagement with Gulf-based investment partners, including sovereign wealth funds from Oman, signals a shift toward diversified strategic alliances.

Such partnerships extend beyond mining, encompassing energy, infrastructure, and broader mineral development. This multi-sector approach strengthens negotiating power while aligning with global trends in supply chain security.

Across Africa, similar strategies are emerging:

• Democratic Republic of the Congo tightening control over cobalt
• Ghana refining gold sector regulations
• Zambia restructuring its copper industry

These developments highlight a continent-wide shift towards sovereign resource management, driven by both economic ambition and geopolitical necessity.

---

A Structural Shift in the Diamond Industry

Botswana’s stance represents more than a contractual dispute it signals a structural transformation in how diamond resources are owned, managed, and monetised. As producing nations assert greater control, the traditional dominance of multinational mining companies is being challenged.

For the global diamond industry, this evolution could redefine supply chains, pricing dynamics, and the balance of power for decades to come.

Source: DCLA

Botswana to Settle for Smaller De Beers' Stake?

 

Botswana may now settle for a minority stake in De Beers rather than seeking majority control, according to a report in The Economist.

It says the government is now pursuing at “least 25%,” which would indicate a significant softening in President Duma Boko’s position.

He has previously insisted, on many occasions, that he wants a controlling stake in the company, framing such a move as a matter of “economic sovereignty”.

The Economist also quotes an unnamed executive at Debswana – the government’s joint venture with De Beers, as saying: “It probably doesn’t make sense to go all out.”

Botswana currently owns 15% of the loss-making diamond miner, which is being sold by parent company Anglo American.

In December 2025, the IMF cautioned against Botswana’s plans to increase its stake, given the country’s struggling economy.

The president rejected that call in no uncertain terms saying it was for the people of Botswana to decide, not the IMF.

“It’s our people who are running this country, and we said we want De Beers, and we are going to take it,” he said.

Angola’s government has also expressed an interest in acquiring a significant stake in De Beers, and Namibia is also a potential bidder.

Experts believe the most likely outcome will be that a consortium or private investors will buy a controlling stake, and African governments including Botswana will hold minority shares.

Source: DCLA

Botswana seeks to raise debt ceiling to weather diamond market downturn

 

Natural rough diamond embedded in rock, mineral extraction challenge

Botswana’s finance minister sought parliamentary approval on Wednesday to raise the country’s statutory debt ceiling from 40% to 60% of gross domestic product, as a prolonged downturn in the global market for diamonds has pressured public finances.

Ndaba Gaolathe said the proposal was aimed at giving the government flexibility during periods of economic stress, such as the one it is going through now.

The diamond market downturn has hit the southern African country hard, with two successive economic contractions in 2024 and 2025. Botswana had been viewed as an economic success story, partly because of its low public debt.

Raising the debt ceiling “does not imply immediate borrowing up to that level but rather establishes prudent headroom,” Gaolathe told lawmakers.

In last month’s budget, he said Botswana was expected to breach a debt-to-GDP ratio of 40% in the fiscal year that starts in April.

Late last year International Monetary Fund staff recommended raising the debt ceiling to 50% of GDP to give fiscal space to respond to economic shocks.

S&P Global this month downgraded Botswana’s sovereign ratings, saying diamond market weakness would weigh on its economy for longer than expected.

Diamonds typically account for about a third of Botswana’s national revenue and 75% of its foreign-exchange earnings.

Source: DCLA

DCLA News | Botswana Doubles Down as Diamond Supply Tightens and Demand Strengthens

 

The diamond pendant worn by Bogolo Kenewendo at a recent Cape Town mining conference was more than a personal statement it symbolised Botswana’s unwavering commitment to the very resource that transformed its economy.

For decades, De Beers has been synonymous with Botswana’s rise, helping elevate the nation into one of Africa’s most prosperous economies. Now, Botswana is preparing to deepen that relationship, signalling intentions to increase its existing 15% stake in the iconic diamond firm a bold move that underscores its long-term confidence in the sector.

Supply Tightens as Market Shows Early Recovery

At the same time, signs of recovery are emerging across the global diamond market. Russian mining giant Alrosa has reported price increases of between 6% and 9% on rough diamonds since the start of the year, with the strongest gains seen in the high-value 2 to 10 carat segment a category that represents roughly 80% of its production value.

According to CEO Pavel Marinychev, the market for larger stones — particularly those above 3 carats — has stabilised, with tightening supply now becoming increasingly evident. Price improvements, initially modest in January, have accelerated through February and March, with nearly half of Alrosa’s regular assortment seeing upward revisions.

Global Production Faces Structural Decline

Looking ahead, the supply side of the diamond industry is under significant pressure. Alrosa forecasts that global diamond production will fall below 100 million carats by 2026 the lowest level in two decades.

This decline is being driven by a combination of resource depletion and operational cutbacks. Alrosa itself has already suspended output at several smaller projects, while major deposits are reaching the end of their lifecycle. Notably, the Diavik Diamond Mine, operated by Rio Tinto, is approaching closure, with other Canadian mines expected to follow.

The result is a growing scarcity of large, high-quality stones a dynamic that could underpin prices in the years ahead.

Auction Market Confirms Demand for Rarity

Further evidence of resilience in the diamond market comes from the secondary sector. Christie’s New York recently reported strong results from its “Jewels Online” sale, which achieved $8.5 million and exceeded expectations by reaching 131% of its low estimate.

Among the highlights was a 10.02-carat D-colour, internally flawless Type IIa diamond ring by Tiffany & Co., which sold for $521,000. Another 10.03-carat D-colour Type IIa diamond achieved $508,000 significantly above its estimate.

Provenance also played a key role, with a historic jewellery set from Elizabeth Taylor’s collection selling for over seven times its low estimate.

Christie’s noted strong global participation, with buyers spanning the Americas, Asia-Pacific, and EMEA regions reinforcing the enduring demand for rare, high-quality, and well-documented diamonds.

Strategic Outlook

Botswana’s move to increase its exposure to De Beers is not without risk but it is a calculated one. With global supply tightening, major deposits depleting, and demand for exceptional stones holding firm, the country is effectively positioning itself to capture greater long-term value from a shrinking resource base.

For the global diamond trade, the message is clear: scarcity is returning and with it, the potential for renewed price strength, particularly at the top end of the market.

Source: DCLA

Botswana's State-owned diamond company turns to contract sales to manage tough market

 

Botswana’s State-owned Okavango Diamond Company plans to increase the share of diamonds it sells to contracted buyers as a way to navigate a depressed global diamond market, acting MD Lipalese Makepe said on Wednesday.

Contract diamond sales are more predictable compared with auctions and tenders that are highly competitive and often lead to price volatility.

Surplus supplies, falling demand and the rising popularity of lab-grown diamonds have weighed on rough diamond prices in recent years. Economic slowdown has also led to reduced diamond sales.

Until last year, the state diamond marketing company mainly sold its gems through auctions and tenders because a clause in Botswana’s contract with De Beers had prevented Okavango Diamond Company from directly competing with it.

CONTRACT SALES BEGAN WITH A PILOT LATE LAST YEAR
ODC was able to begin contract sales after the Botswanan government signed a new agreement with De Beers in February 2025.

“We piloted the contracts in November and December with an average of 14 customers,” Makepe told Reuters on the sidelines of an African mining conference in Cape Town. The number of contracted customers has risen to 32, she added.

“We plan to sell about 50% of our Debswana allocation by value,” she added, referring to ODC’s allocation of production from Botswana’s diamond mining company. Initially the plan was to sell 40% by contract.

Makepe said the balance of its allocation will be sold through the normal ten auctions a year and strategic partners as well as citizen-owned companies.

ODC could also pursue special auctions, Makepe said, despite last year’s inconclusive attempt.

The company sold about three-million carats in 2025 from over four-million carats of its allocated supply, according to Makepe, and 2026 sales are likely to be in the same range in line with their allocation from Debswana.

ODC’s rough diamond allocation from Debswana – Botswana’s joint venture with De Beers – increased to 30% from 25% and will reach 40% at the end of the 10-year agreement.

De Beers, the world’s largest diamond company by value, is a unit of Anglo American, which has been seeking to sell it ahead of its mega merger with Canadian miner Teck Resources.

Anglo American CEO Duncan Wanblad, also speaking on the sidelines of the Indaba conference, told Reuters he was prioritising the sale, most likely to a consortium given the lack of big strategic diamond players in the current market.

Source: DCLA

Botswana Diamonds Secures Eight New Prospecting Licences, Expands into Copper Exploration

 

Aim- and BSE-listed Botswana Diamonds has been awarded eight new prospecting licences covering approximately 7,000 km² in north-western Botswana, marking a strategic expansion into copper exploration, with additional potential for gold and other critical minerals.

The licences, valid until 31 December 2028, were identified through an extensive AI-driven analysis of the company’s 95,000 km² Botswana-focused exploration database. This dataset includes comprehensive geophysical survey information, which highlighted strong prospectivity for copper, alongside indications of gold and energy-transition metals.

The same proprietary AI technology has previously delivered notable success in diamond exploration, identifying six previously unreported kimberlite-prone areas for which Botswana Diamonds also holds licences.

The company said the move into copper reflects ongoing weakness in the global diamond market, combined with robust and growing demand for copper and other minerals critical to the global energy transition.

Botswana Diamonds highlighted Botswana’s stable operating environment and strong geological potential, noting active copper mining and exploration in the country. Established operators include MMG and Sandfire Resources, while exploration activity is also being undertaken by Cobre, which has a joint venture with BHP, as well as Kavango Resources, Galileo Resources and Aterian.

Initial discussions have already commenced with potential partners regarding joint venture opportunities to advance exploration across the newly awarded licences. The company plans to undertake close-spaced geophysical and geochemical surveys to define priority drill targets.

Despite the diversification, Botswana Diamonds confirmed it remains committed to its core diamond strategy and will continue to monitor market conditions and capital deployment into its diamond assets.

Chairperson John Teeling said the latest AI analysis had delivered “exceptional results”, following the earlier identification of kimberlite-prone ground that led to the discovery of six previously unknown anomalies.

“The outcomes were outstanding. We have now secured eight prospecting licences covering many of these areas. Copper and other energy-related minerals are critical to the energy transition for a greener future,” Teeling said on 26 January.

He added that while the diamond market is currently under pressure, the company’s long-term focus on diamonds remains unchanged.

“These market conditions will improve, and this strategy allows us to continue progressing as a mining company while remaining committed to diamonds over the longer term. In the meantime, there has been strong third-party interest in both our technology and our results, creating clear potential to advance these licences efficiently through partnerships and structured exploration programmes,” Teeling said.

Source: DCLA

Botswana Warns Diamond Oversupply Threatens Economic Growth

 

Botswana has warned that a growing diamond oversupply is set to weigh heavily on economic growth, as weak global prices and intensifying competition from lab-grown stones continue to suppress demand.

The world’s second-largest diamond producer after Russia is currently holding nearly double its permitted diamond stockpile, highlighting the severity of the downturn in the natural diamond market. Diamonds account for approximately one-third of Botswana’s GDP, making the sector critical to national economic stability.

According to the finance ministry’s 2026/27 Budget Strategy Paper published on Tuesday, Botswana held around 12 million carats of rough diamonds at the end of December, significantly above the government’s 6.5 million-carat ceiling.

“This suggests that, over the short term, production is expected to remain broadly unchanged until inventory levels are drawn down closer to minimum allowable thresholds, creating room for additional output,” the ministry said.

The prolonged slump has been exacerbated by weaker demand in the United States and China — the world’s two largest diamond markets — where retailers have scaled back orders amid growing consumer preference for lower-priced lab-grown diamonds.

Trade pressures are also adding to market strain. A 15 percent US tariff on diamonds, along with higher duties in key trading hubs such as India, is expected to prolong price weakness and further compress margins. The finance ministry described these developments as a “source of concern”.

Rough diamond prices are forecast to average $99.3 per carat, sharply lower than $128.8 in 2024. The ministry warned that any further decline during the current financial year could significantly reduce mineral revenues below current projections.

Mineral revenues are expected to fall to 10.3 billion pula ($770 million) in 2025/26, well below the long-term average of 25.3 billion pula. The shortfall, officials cautioned, is likely to persist over the medium to long term, with the possibility of a permanent structural decline.

The policy paper also warned that the extended weakness in the global diamond market “poses a significant threat” to economic growth. Botswana’s economy is forecast to contract by nearly 1 percent in 2025, following a 3 percent decline the previous year.

“Compounding this situation is the decline in foreign reserves and government savings, which is further constraining fiscal space and limiting exchange-rate policy options,” the ministry said.

Once among the poorest nations in the world, Botswana was transformed economically following the discovery of diamonds in the 1960s. Today, it is one of several African governments and businesses seeking a greater stake in De Beers, the world’s leading diamond producer.

Mining giant Anglo American has announced plans to divest from De Beers as the industry grapples with a prolonged downturn and structural shifts in global diamond demand.

Source: DCLA

Botswana’s Diamond Stockpile Nearly Doubles as Prolonged Price Slump Pressures Economy

 

Botswana’s diamond stockpile has surged to almost double its targeted inventory levels as the global slump in gem prices shows little sign of easing, underscoring the mounting pressure on the world’s second-largest diamond-producing nation by volume.

According to Botswana’s Ministry of Finance, the country held an estimated 12 million carats of diamonds at the end of December 2025, nearly twice the government’s allowable inventory threshold of 6.5 million carats. The elevated stockpile reflects weak demand, subdued pricing, and limited scope for increasing production in the near term.

Botswana’s economy is forecast to contract by nearly 1% in 2025, following a 3% decline in 2024, with the downturn largely attributed to the collapse in diamond prices. The market has been weighed down by a surge in lab-grown diamond supply, cautious consumer spending, and softer demand across key luxury markets.

The price weakness has already had tangible operational consequences. Debswana, the 50:50 joint venture between the Government of Botswana and De Beers that accounts for roughly 90% of the country’s diamond sales, was forced to temporarily suspend production at several mines last year in response to unfavourable market conditions.

Despite these challenges, Botswana produced 18 million carats in 2024, second only to Russia, according to data from the Kimberley Process Certification Scheme. However, the finance ministry cautioned that elevated inventory levels will limit any meaningful increase in output until stockpiles are reduced closer to minimum allowable levels.

“This suggests that, over the short term, production is expected to remain broadly unchanged, until inventories are drawn down, creating room for additional production,” the ministry stated in its 2026/27 Budget Strategy Paper. As a result, economic growth will remain constrained unless the non-mining sectors deliver stronger performance.

Diamonds remain the backbone of Botswana’s economy, typically contributing around one-third of national revenues and approximately 75% of foreign exchange earnings. However, external pressures are compounding domestic challenges. Botswana’s diamond exports to the United States are now subject to a 15% tariff, while the prospect of higher tariffs in other major consuming markets, including India, risks prolonging the downturn in prices and compressing industry margins.

“These developments may ripple through to mining operations,” the ministry warned, noting that any sustained slowdown in diamond production would directly reduce government fiscal revenues.

Reflecting the sharp decline in sales, Botswana’s mineral revenues are projected to fall to 10.3 billion pula ($729 million) in 2025/26, well below the historical annual average of 25.3 billion pula. The figures highlight the scale of the challenge facing both the diamond sector and the broader economy as Botswana navigates a prolonged period of market weakness.

For the global diamond industry, Botswana’s swelling stockpile serves as a stark indicator of the structural pressures reshaping the market — from shifting consumer preferences to the growing impact of lab-grown alternatives — and reinforces the importance of restoring balance between supply and demand.

Source: DCLA

Lucara Advances Karowe Underground Expansion Despite Global Diamond Market Slump

Lucara Diamond Corp is moving forward with the underground expansion of its flagship Karowe mine in Botswana, reaffirming long-term confidence in natural diamonds despite a challenging global market backdrop.

An updated feasibility study has confirmed that the underground project is expected to recover approximately 4.5 million carats over a 10-year mine life, extending Karowe’s production through to 2038. The study strengthens Lucara’s strategy to invest counter-cyclically at a time when the diamond industry is facing falling revenues, production suspensions, and intensifying competition from lab-grown diamonds.

Open-pit mining at Karowe is scheduled to conclude before June, after which surface stockpiles will continue to be processed while underground development progresses towards commercial production. Underground operations are expected to commence in the first half of 2028.

Lucara President and CEO William Lamb said the company remains focused on Karowe’s unique ability to deliver large, high-value stones. “We look forward to continuing to recover large, exceptional diamonds from the underground project,” Lamb said, noting that Karowe is the only diamond mine in the world to have produced nine diamonds weighing more than 1,000 carats.

The underground expansion carries a pre-production capital cost of US$779 million, of which US$436 million has already been invested over the past five years. The remaining US$343 million is expected to be funded through operating cash flow, supplemented by potential equity or debt financing. Lucara is currently engaging with existing lenders and its major shareholder to evaluate funding options.

The project delivers an after-tax net present value of US$432 million, with Lucara forecasting more than US$1.3 billion in net income over the life of the underground operation.

The mine plan targets the highest-value domain of the South Lobe of the AK6 kimberlite, which continues at depth beneath the existing open pit. The underground mine is designed to sustain a 2.85 million tonne-per-year mining and processing operation as surface mining winds down.

A Proven Source of Exceptional Diamonds

Since production began, Karowe—whose name means “precious stone” in the local language—has established itself as one of the world’s most prolific sources of exceptional diamonds. Notable recoveries include the 1,758-carat Sewelô (2019), the 1,109-carat Lesedi La Rona (2015), and the 813-carat Constellation, also recovered in 2015. The mine has also produced Botswana’s largest fancy pink diamond to date, the Boitumelo.

Despite current market headwinds, Karowe remains one of the highest-margin diamond mines globally, consistently producing around 300,000 high-value carats per year—a distinction that continues to underpin Lucara’s confidence in the project’s long-term fundamentals.

Botswana’s Strategic De Beers Takeover Could Redefine Global Diamond Industry

Gaborone, Botswana — November 2025:
Botswana’s move to secure majority control of De Beers, the world’s most iconic diamond company, marks a turning point in both African resource ownership and the global diamond market. The initiative, driven by President Duma Boko, represents one of the most significant sovereignty shifts in modern mining history, with potential to reshape how nations manage their natural wealth.

Why Botswana’s De Beers Acquisition Matters

Diamonds remain the cornerstone of Botswana’s economy — contributing nearly 30% to GDP and 80% of export earnings. Through its long-standing Debswana partnership with De Beers, the country has benefited from steady revenues but limited control over the strategic direction of its most vital industry.

Now, Botswana aims to change that. By pursuing a majority stake, the government seeks greater influence over production, marketing, and profit allocation — a shift that could transform the balance of power in the global diamond trade.

Current Ownership and Partnership Structure

Currently, Anglo American holds 85% of De Beers, while Botswana owns 15% through Debswana. Though this structure has delivered stability and growth, it also leaves Botswana as a minority player in decisions that directly affect its economy.

With Anglo American now restructuring its portfolio and considering divestment, Botswana has seized a rare opportunity to negotiate for majority control — aligning national interest with long-term sustainability and independence.

Economic Impact and Strategic Motivation

Diamonds have built Botswana’s success story, funding education, infrastructure, and healthcare. Yet, with rising competition from lab-grown diamonds and volatile global demand, the government recognises the need to safeguard revenue and ensure future resilience.

Majority control would allow Botswana to:

• Align De Beers’ strategy with national priorities
• Increase direct revenue and value capture
• Enhance job creation through local beneficiation
• Strengthen resilience against external market shocks

Understanding the De Beers Restructuring Opportunity

Anglo American’s decision to offload assets amid global portfolio optimisation has opened the door for Botswana’s historic bid. Market analysts suggest that De Beers’ valuation — affected by softer diamond demand — may now be more accessible, creating a once-in-a-generation acquisition opportunity for Botswana.

International sovereign wealth funds, including potential partners from Oman, have expressed interest in co-financing the acquisition, signalling global confidence in Botswana’s governance and the enduring value of natural diamonds.

Regional Competition and Cooperation

Botswana’s bid faces competition from Angola’s Endiama EP, which has also expressed interest in acquiring Anglo American’s stake. However, diplomatic discussions between Botswana and Angola hint at possible collaboration, with joint African ownership of De Beers emerging as a strategic alternative that could reinforce continental resource sovereignty.

Global Diamond Market Implications

If successful, Botswana’s acquisition would mark a paradigm shift:

• African Resource Sovereignty: Establishing Botswana as a model for other resource-rich nations pursuing local ownership.
• Supply Chain Control: Enhancing Africa’s ability to influence global pricing, production, and distribution strategies.
• Market Stability: Strengthening natural diamond positioning against synthetic competitors through unified African leadership.

With potential to contribute over 35% to Botswana’s GDP and maintain its dominance in global exports, majority ownership could significantly enhance the nation’s economic resilience and international influence.

Challenges and Market Outlook

The acquisition faces hurdles, including valuation complexities, competitive bidding, and global demand fluctuations. Moreover, the diamond industry continues to navigate pressures from lab-grown alternatives, changing consumer preferences, and macroeconomic uncertainties.

Nevertheless, Botswana’s strategy demonstrates forward-thinking leadership — leveraging its expertise, governance stability, and long-term vision to secure sustainable control over its most valuable resource.

President Duma Boko’s Vision

“Government will leverage a majority stake. Concrete steps are under way towards the acquisition of Anglo American shares in De Beers,”
— President Duma Boko, addressing Parliament, November 2025

His statement underscores Botswana’s commitment to advancing economic independence while setting a precedent for African nations reclaiming control of their mineral wealth.

What This Means for the Future

Should Botswana succeed, it will become the first African nation to hold majority ownership of the world’s largest diamond company — a move that could redefine the global diamond landscape for decades to come.

Beyond national pride, this transition represents a strategic realignment of power, giving Botswana direct control over pricing, marketing, and supply chain dynamics in the international diamond market.

---

Frequently Asked Questions

When will the Botswana De Beers deal be finalised?
Negotiations are ongoing through late 2025. Completion depends on final agreements with Anglo American and potential co-investors.

How much will Botswana pay for majority control?
Financial details remain confidential, with valuations influenced by current market conditions and strategic negotiations.

Will this affect global diamond prices?
Yes — greater African control over supply could strengthen natural diamond pricing and reinforce consumer confidence in ethically sourced stones.

---

About DCLA

The Diamond Certification Laboratory of Australia (DCLA) is Australia’s official CIBJO-recognised laboratory, providing independent grading, authentication, and certification of natural diamonds. DCLA continues to report on global developments shaping the natural diamond industry, ensuring transparency and consumer confidence worldwide.

Disclaimer: This article is intended for informational and educational purposes only. The views and interpretations expressed do not necessarily reflect those of the Diamond Certification Laboratory of Australia (DCLA). All information is based on publicly available data and current market reports at the time of publication. DCLA does not provide financial, investment, or legal advice. Readers are encouraged to conduct their own research or consult with qualified professionals before making decisions related to diamond investment, trading, or acquisition.