Anglo American has selected a preferred buyer for its stake in diamond producer De Beers, with the Botswana government now assessing whether to exercise its pre-emption right independently, in partnership with the chosen buyer, or alongside a third party, a senior government official said on Friday.
Anglo American placed De Beers, one of the world’s largest diamond producers, up for sale in May 2024 as part of a broader restructuring drive prompted by falling diamond prices and the growing popularity of synthetic stones.
De Beers operates across Botswana, Namibia, Angola, South Africa, and Canada.
The sale process attracted interest from the governments of Botswana, which already holds a 15% stake in the company, as well as Namibia and Angola, alongside private investors.
“Anglo American conducted a competitive process involving three finalists and has since identified a preferred buyer, the Global Diamond Consortium,” Botswana’s Minister of Presidential Affairs, Defence and Security, Moeti Mohwasa, told parliament.
According to the minister, the consortium’s proposal to incorporate Angola and Namibia was well received. Mohwasa declined to identify the partners within the consortium, but stressed the urgency of securing an experienced operator backed by a stable, long-term shareholder structure and a credible, adequately funded plan to revive the company.
Asked about the process, an Anglo American spokesperson said the company continues to advance the sale and will provide updates in due course.
Sources previously cited by Reuters indicated that two consortia remain in contention for Anglo American’s De Beers stake, after the field of candidates narrowed from six at the start of 2025 to two.
The two groups include governments of diamond-producing countries, former De Beers chief executive Gareth Penny — currently chairman of asset manager Ninety One — a Qatari investment fund, and Israeli businessman Nir Livnat.
Mohwasa emphasised that Botswana retains “full freedom” to proceed in partnership with the preferred buyer, exercise its pre-emption right alone, or do so alongside a third party.
The minister added that the government is currently working with its financial advisers to determine the most advantageous structure for the transaction. He said the completion of the sale is expected in the final quarter of 2026, subject to the fulfilment of several conditions, including approval from the Botswana government.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/07/20/mundo/africa/botsuana-governo-avalia-exercer-direito-de-preferencia-na-compra-da-de-beers/
