Botswana plans to double its ownership in De Beers to 30% as Anglo American moves to sell its 85% stake in the diamond producer, potentially reshaping control of one of the world’s most influential diamond businesses. President Duma Boko disclosed the government’s intention in an address to Parliament.

Boko also revealed that the Global Diamond Consortium, a group led by former De Beers CEO Gareth Penny, had been selected as the preferred bidder for Anglo American’s stake. The development signals a potentially significant shift in ownership as Botswana seeks greater influence over its diamond industry.

Botswana seeks greater control

De Beers has traditionally been owned 85% by Anglo American and 15% by the Botswana government. Increasing its holding to 30% would strengthen the country’s position in a company whose operations, diamond production and sales have long played a central role in Botswana’s economy.

The proposed transaction comes as Anglo American pursues a broader portfolio restructuring. The London-based mining group, founded in Johannesburg in 1917, is reviewing its asset base as it concentrates on businesses it considers strategically important and positions itself for changing global commodity demand.

A global diamond business

De Beers operates across the diamond value chain, from exploration and mining to sales and retail. Its activities span Botswana, Canada, Namibia and South Africa, with major operations including Debswana and Namdeb, alongside offshore diamond recovery and exploration projects in Angola.

The company’s importance to Botswana extends beyond ownership. Through its partnership with the government in Debswana, De Beers has been a major participant in the country’s diamond industry, which supports export earnings, government revenue and employment. A change in ownership could therefore have significant implications for Botswana’s long-term mining strategy.

Anglo American reshapes portfolio

Anglo American operates across multiple mining markets, with a portfolio of projects and producing assets spanning Southern Africa, South America, Australia, Europe and North America.

Its planned departure from De Beers represents a major change for a group whose history has been closely tied to the development of Africa’s mining industry.