President Duma Boko Travels to Oman to Secure Resource Partnerships and Financing for Potential De Beers Stake Expansion
Botswana President Duma Boko is travelling to Oman to sign cooperation agreements covering natural resources and energy, as his administration works to strengthen the country’s position in leading diamond producer De Beers Group.
Boko is scheduled to hold talks through Tuesday with Haitham bin Tariq, according to a statement issued by the president’s office on Sunday.
The discussions come ahead of an April 16 deadline for bids on the 85% stake in De Beers being divested by Anglo American.
Despite fiscal constraints, Botswana remains determined to increase its ownership in De Beers, a company that conducts the majority of its diamond mining operations within the country.
Botswana currently holds a 15% stake in the diamond giant and views greater ownership as strategically important for national revenue and long-term control over its key mineral resources.
“Following their meeting, the two leaders will witness the signing of three key agreements covering partnerships in solar energy, minerals and oil,” the president’s office said.
Boko previously indicated in September that Botswana was in discussions with an Omani sovereign wealth fund to help finance the acquisition of a controlling interest in De Beers, signalling a broader effort to secure international backing for the potential transaction.
