Botswana Aims for Majority Stake in De Beers as Anglo American Plans Divestment
Botswana is positioning itself to take a controlling stake in De Beers, as Anglo American prepares to divest from the global diamond giant, according to a report by the Financial Times.
Mining Minister Bogolo Kenewendo told the Financial Times that President Duma Boko is “resolute in his quest” to increase Botswana’s share in De Beers.
The government aims to gain full control over what it considers a critical national asset, including the entire diamond value chain—from production to marketing.
“Any sale of De Beers without our support will be difficult to achieve,” Kenewendo added.
Currently, Botswana owns 15% of De Beers, a company that supplies roughly 70% of its total rough diamond output. Anglo American holds the remaining 85%.
The move comes after Anglo American announced plans to divest from De Beers as part of a broader restructuring strategy.
This decision followed the company’s successful defense against a takeover bid by BHP Group earlier this year.
According to a June Reuters report, De Beers has already drawn interest from at least six prospective buyers.
These include consortia backed by commodities billionaire Anil Agarwal, Indian diamond firms, and Qatari investment groups.
In an emailed statement to Reuters, an Anglo American spokesperson said the company is “engaging with the government of Botswana on a regular basis and at all appropriate stages” as it explores options to either sell or spin off its 85% stake in De Beers.
Botswana’s efforts to secure majority ownership reflect a broader trend among resource-rich nations seeking greater control over their natural assets and value-added industries.
