Angola is closely monitoring the ongoing restructuring of diamond giant De Beers, following the announcement that Anglo American—its majority shareholder—is planning to sell its 85% stake.
The Angolan government is actively engaging with partners to prevent the company from being taken over by parties that lack a genuine interest in the future of natural diamonds.
This assurance was given on Thursday by Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during remarks at Endiama’s headquarters in Luanda.
The comments followed a presentation on the diamond industry by Martin Rapaport, a leading figure in the global diamond trade.
“De Beers, as you know, is the soul of natural diamonds,” said Azevedo. “Its main shareholder is selling its stake. What I can assure you is that we are not distracted.”
He emphasized that the government is taking proactive steps to safeguard the integrity of the natural diamond sector.
“Few people noticed, but I traveled to London and met with the CEOs of Anglo American and De Beers.
I also spoke with the President of Botswana during the US-Africa Summit and with my counterpart from Botswana.
We cannot allow De Beers to fall into the wrong hands—those who don’t share the same commitment to natural diamonds.”
When asked by Lusa whether Angola might be interested in acquiring a stake in De Beers, the minister declined to comment, saying only that the government is “attentive” to the situation and is maintaining dialogue with key partners.
Analysts estimate that Anglo American’s stake in De Beers could be worth between $2 and $2.5 billion—significantly below book value—due to declining demand for natural diamonds and rising competition from synthetic alternatives.
Anglo American is a global mining conglomerate with interests across Africa, South America, Asia, and Australia.
In Angola, the company is also involved in mineral exploration in the provinces of Cunene and Moxico, through agreements focused on base metals.
De Beers, widely regarded as the world’s largest diamond producer, reentered Angola in 2022 after a decade-long absence.
Since then, it has signed new contracts with the state-owned diamond company Endiama and identified several promising areas for diamond exploration.
