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Anglo exit: What it means for Botswana

Tuesday, May 14, 2024 | 4150 Views |

New pathways: De Beers' shareholding is set to change

Anglo American’s decision to "divest or demerge" from De Beers, after a 98-year partnership, means government has to decide whether to increase its shareholding in the diamond group while also bracing for the entry of a new partner.

This morning, Anglo American – which became De Beers' 85% equity investor in 2012 when founding family – the Oppenheimers divested – announced that it was looking to exit its investment in the diamond group as part of a strategic review of assets.

Anglo in February said it was reviewing its global assets after its 2023 profits fell 94%, with a $1.6 billion impairment charge on De Beers due to the double digit fall in retail diamond prices and demand suffered last year.

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Anglo exit: What it means for Botswana

Anglo American’s decision to "divest or demerge" from De Beers, after a 98-year partnership, means government has to decide whether to increase its shareholding in the diamond group while also bracing for the entry of a new partner.