Luanda, June 26, 2025 (Lusa) - Angola is monitoring the restructuring of De Beers, including the sale of Anglo American’s stake. It is in contact with its partners to ensure that the company remains in the hands of those who have an interest in natural diamonds.
Angola's minister of mineral resources, oil and gas, Diamantino Azevedo, made the statements on Thursday at Endiama headquarters in Luanda after a presentation on the state of the diamond industry by Martin Rapaport, a leading figure in the international diamond trade.
“De Beers, as you know, is the soul of natural diamonds. De Beers’ main shareholder is selling its stake. What I can assure you is that we remain fully focused,” said the minister, referring to the decision by British multinational Anglo American, which currently owns 85% of De Beers, to sell its stake in the diamond multinational.
The remaining 15% of De Beers belongs to the government of Botswana, Africa’s largest diamond producer, which may increase its shareholding.
"Few people realised, but I travelled to London and had a meeting with the CEOs of Anglo American and De Beers. I also had a conversation with the president of Botswana, who was here at the US-Africa meeting, and I have been talking to my counterpart in Botswana. I can say that we remain focused, and we will keep De Beers strong. We must keep De Beers in the hands that share the same interest as those who hold natural diamonds," the minister stressed.
When Lusa asked about Angola’s possible interest in acquiring a stake in De Beers, Diamantino Azevedo declined to provide details, saying only that the government is “attentive” to the situation and therefore “wanted to talk to its partners.”
International analysts estimate that the value of Anglo American’s stake in De Beers could be between $2 billion and $2.5 billion (€1.87 billion to €2.34 billion), less than half its book value, reflecting a stronger preference for synthetic diamonds and softer demand for natural diamonds.
Anglo American is a London-based multinational with operations on several continents, including Africa, South America, Asia and Australia, mining platinum, copper, iron, coal, nickel and diamonds, the latter through De Beers.
In Angola, Anglo American has mining investment contracts with the government for the exploration of base metals in the provinces of Cunene and Moxico.
De Beers, the world’s largest diamond producer, returned to Angola in 2022 after an absence of around ten years, establishing new contracts with the Angolan state-owned company Endiama and identifying multiple exploration areas with high diamond potential.
RCR/ADB // ADB.
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