Botswana is pushing to take full control of the diamond company De Beers, as Anglo American moves forward with its plan to withdraw from the business.
The southern African nation currently owns 15% of De Beers but now wants to become the main shareholder to secure its interests in diamond production and sales.
The country’s Mining Minister, Bogolo Kenewendo, said the government is focused on gaining a majority stake in the company.
This move comes as President Duma Boko seeks stronger national control over Botswana’s diamond sector, which is a major part of the country’s economy.
De Beers sources about 70% of its rough diamonds from Botswana, making the nation a key player in the global diamond trade.
The decision follows Anglo American’s recent announcement to offload its 85% ownership in De Beers.
This restructuring move comes after the company successfully resisted a takeover offer from mining giant BHP Group earlier this year.
Reports show that several investment groups have already shown interest in De Beers. These include consortia linked to Indian diamond businesses, Qatari funds, and billionaire Anil Agarwal.
However, Botswana has made it clear that any potential deal involving De Beers must have its full support, especially given the country’s role in the company’s operations.
Anglo American has confirmed that it remains in regular talks with Botswana’s government during the process of either selling its shares or preparing for a public listing.
The company has not yet made a final decision on which route it will take.
Botswana’s leadership views full control over De Beers as an important step in gaining more value from its natural resources, including taking part in diamond processing, trade, and marketing.
The country is expected to play a central role in shaping the future of De Beers as ownership discussions continue.