Diamond-Rich Botswana Says It Will Increase Its Stake in De Beers to 30% Under Proposed Sale – WTOP News
- On Monday, President Duma Boko announced that Botswana will double its stake in De Beers to 30 percent by backing the Global Diamond Consortium's bid to acquire Anglo American's 85 percent holding.
- Anglo American initiated the sale to simplify its portfolio and focus on copper and iron ore, while Botswana's diamond-dependent economy contracted last year following a significant dip in sales.
- De Beers CEO Al Cook welcomed the deal, noting that Namibia and Angola will also participate in the transaction, positioning southern African nations as the company's primary owners.
- Becoming the single largest shareholder grants Botswana greater influence over strategic decisions for decades to come, with Boko emphasizing that local resources should bring prosperity to the region.
- The deal arrives as the natural diamond industry faces a global downturn driven by competition from artificial lab-grown stones and declining luxury spending in China, adding context to the strategic acquisition.
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30 Articles
Cartier owner led by South Africa’s richest man circles De Beers as Botswana doubles its stake and Namibia, Angola and Oman enter Anglo American’s diamond ownership plan
Botswana is preparing to double its ownership of De Beers as a consortium involving African governments and some of the world’s biggest jewellery businesses moves closer to taking control of the diamond producer from Anglo American.
‘Our investment in De Beers is not just an investment in natural diamonds, it is an investment in technology,’ says Duma Boko
Diamond-rich Botswana says it will increase its stake in De Beers to 30% under proposed sale – WTOP News
GABORONE, Botswana (AP) — Botswana’s president said Monday that the diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium of investors to buy Anglo American’s shares in the company. President Duma Boko said in a speech in Parliament that the move would make Botswana...
The Toronto Star
Diamond-rich Botswana says it will increase its stake in De Beers to 30% under proposed sale
GABORONE, Botswana (AP) — Botswana's president said Monday that the diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium
Botswana says it will increase its stake in De Beers to 30% under proposed sale
Botswana’s president says that his diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium to buy Anglo American’s shares
(Johannesburg=Yonhap News) Correspondent Na Hak-jin = The Botswana government announced that it will increase its stake in diamond producer De Beers from the current 15% to 30%, Duma...
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