Angola is seeking a 10% holding in De Beers as part of Anglo American’s proposed sale of its majority stake in the diamond producer, a Mines Ministry Spokesperson told Reuters this Friday.
Anglo American put De Beers, which operates and explores for diamonds in Botswana, Namibia, Angola, South Africa (SA) and Canada, up for sale in 2024 as part of a broader restructuring amid falling diamond prices and growing competition from synthetic stones.
Botswana, which had the right of first refusal on Anglo American’s stake, on Monday backed the deal, saying it will double its holding to 30%.
President Duma Boko said that while Botswana would become De Beers’ single largest shareholder, the governments of Namibia and Angola would also participate in the transaction.
Angola’s Mines Ministry Spokesperson was confirming a report in weekly newspaper Novo Jornal.
The report said Namibia was also seeking a 10% stake in De Beers. Namibian officials did not immediately respond to requests for comment.
–Reuters–
