Angola bids for minority stake in De Beers as Botswana seeks deal for control

[Rough diamond, precious stone in mines. Concept of mining and extraction of rare ores.]
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The government of Angola has offered to buy a minority stake [https://www.bloomberg.com/news/articles/2025-09-24/angola-bids-for-minority-stake-in-de-beers-to-fend-off-botswana] in Anglo American's (OTCQX:AAUKF [https://seekingalpha.com/symbol/AAUKF]) (OTCQX:NGLOY [https://seekingalpha.com/symbol/NGLOY]) De Beers diamond unit in an attempt to keep the company independent, Bloomberg reported Wednesday, after Botswana said it wants to take control of the firm.

State-owned Angolan diamond company Endiama said it submitted a fully financed bid for a "strategic" stake in De Beers that "does not seek majority control."

"Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa and Angola all participate meaningfully - ensuring that no single party dominates," Angloa's Minister of Mineral Resources, Petroleum and Gas said.

Anglo (OTCQX:AAUKF [https://seekingalpha.com/symbol/AAUKF]) (OTCQX:NGLOY [https://seekingalpha.com/symbol/NGLOY]) is seeking to divest its 85% stake in De Beers, which mines most of its gems in Botswana, but Angola is Africa's leading diamond producer by value, with output last year surpassing Botswana’s production for the first time in 20 years.

Botswana's President Boko said earlier this week that his government aims to complete a deal to take a majority stake in De Beers by the end of next month [https://www.bloomberg.com/news/articles/2025-09-23/botswana-wants-to-buy-de-beers-controlling-stake-by-next-month-duma-boko-says].

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