Botswana Eyes Bigger Stake in De Beers Amid Anglo American’s Strategic Review. Botswana is considering increasing its stake in De Beers as Anglo American explores strategic options for the diamond mining giant. Currently, the Botswana government holds a 15% share in De Beers, with Anglo American controlling the remaining 85%. However, with Anglo American evaluating whether to sell or spin off De Beers, Botswana is positioning itself to play a bigger role in the company’s future.
According to recent reports, Botswana sees this as an opportunity to secure greater control over its diamond resources. The government has been negotiating new agreements with De Beers, including a revised sales deal that will gradually increase Botswana’s share of production from the Debswana joint venture. Under the new agreement, Botswana will receive 50% of Debswana’s diamond output over the next decade, up from the current 30%.
De Beers has been a key player in Botswana’s economy for decades, with diamond mining contributing significantly to national revenue and employment. By increasing its stake, Botswana aims to strengthen its influence in the global diamond market while ensuring that more of the value generated from its resources remains within the country.
Anglo American has been reassessing its ownership of De Beers due to changing market conditions and the fluctuating demand for diamonds. A potential sale or restructuring could open doors for Botswana to increase its involvement. However, the decision will depend on multiple factors, including valuation, investment feasibility, and potential competition from other buyers.
Botswana’s move reflects a broader trend among resource-rich nations seeking greater ownership over their natural wealth. If successful, a larger stake in De Beers could provide Botswana with greater economic stability and long-term benefits from its diamond industry.
