Angola seeks 10% stake in De Beers under Anglo’s proposed exit
Angola is seeking a 10% holding in De Beers as part of Anglo American's proposed sale of its stake in the major diamond producer, a mines ministry spokesperson told Reuters on Friday.
Anglo American put De Beers, which operates and explores for diamonds in Botswana, Namibia, Angola, South Africa and Canada, up for sale in 2024 as part of a broader restructuring amid falling diamond prices and growing competition from synthetic stones.
Botswana, which had the right of first refusal on Anglo American’s stake, has backed the deal, saying it will double its holding to 30%.
Angola’s mines ministry spokesperson was confirming a report in weekly newspaper Novo Jornal.
The report said Namibia was also seeking a 10% stake in De Beers.
Source: Mining Weekly