Name: Angola makes bold move to acquire De Beers stake amid strategic shift
Uploaded: 2025-10-28T23:51:56.162Z
Duration: 1 min 10 s
Description: Endiama sees value in leveraging De Beers’ mining technologies and marketing infrastructure to propel Angola’s diamond industry forward.

Endiama sees value in leveraging De Beers’ mining technologies and marketing infrastructure to propel Angola’s diamond industry forward.

Luanda

Angola has initiated a bid to acquire the 85% stake in diamond producer De Beers currently held by Anglo-American PLC. Indiama, Angola's state-owned gem company, is leading the proposal, with negotiations advancing according to its CEO. Anglo-American has valued De Beers at approximately US$4.9 billion, following significant impairments in recent years, and has been seeking to divest its majority share for over a year.

This bid places Angola in competition with other interested parties, notably the government of Botswana, which already owns half of De Beers and has the right to match any external offers. Angola's move marks a shift from its previous strategy of seeking a minority stake and partnership, now aiming for a controlling position in the diamond company.

Angola makes bold move to acquire De Beers stake amid strategic shift

Angola has launched a significant bid to purchase the 85% stake in diamond producer Dubies currently held by Anglo-American PLC. The Angola state-owned gem company, Indiama, has submitted a proposal and is advancing talks according to its CEO, José Manuel Ganga Jr. Anglo-American valued Dubies at approximately US$4.9 billion after recording impairments amounting to US$3.5 billion over the past two years. Anglo-American has been seeking to divest its majority share in Dubies for around 17 months. The bid pits Angola against other interested parties, including the government of Botswana, which already owns 50% of Dubies and retains a right to match external offers. Botswana's president, Duma Boko, described any acquisition as a matter of economic sovereignty. Angola's interest signals a shift in strategy. Previously focused on securing a minority stake and partnering with Botswana, the country now appears intent on taking a controlling position.

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