https://newsletter.en.creamermedia.com
Botswana|Concrete|Copper|Diamonds|Energy|Mining
Botswana|Concrete|Copper|Diamonds|Energy|Mining
botswana|concrete|copper|diamonds|energy|mining

Botswana taking steps to acquire majority stake in De Beers, President says

Botswana President Duma Boko

Botswana President Duma Boko

Photo by Reuters

11th November 2025

By: Reuters

  

Font size: - +

Botswana is working on acquiring a majority stake in De Beers, President Duma Boko said on Monday, after Angola announced a rival bid to control the giant diamond company.

Botswana, which owns 15% of De Beers and contributes 70% of its annual rough diamond production, considers the company a strategic national asset, despite a slump in global diamond prices that has hurt its economy.

Boko told lawmakers during a State of the Nation Address in Gaborone that while Botswana sought to diversify its mining sector, diamonds would remain a major contributor to growth.

"It is in this regard that concrete steps are underway towards the acquisition of Anglo American's shares in De Beers," Boko said without disclosing further details.

The mining ministers of Botswana and Angola held talks in Botswana's capital on November 7 amid fears that the two regional allies' quests to control De Beers could trigger a standoff.

Although Gaborone avoided addressing the rival bids in remarks after the meeting, Angola's mines ministry said in a statement that the two ministers discussed acquiring shares in De Beers but did not provide more details.

Anglo American, which owns 85% of De Beers, is selling its entire stake to mainly focus on clean-energy metal copper. The global giant values De Beers at $4.9-billion.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

An image showing the Africa Trade Engine launch
Pioneering Africa Trade Engine launched to actualise AfCFTA
14th November 2025 By: Tasneem Bulbulia

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.186 0.275s - 184pq - 2rq
Subscribe Now