Gov’t to ‘raise hand’ for higher De Beers stake :: Mmegi Online

Amidst news of a shake-up in the diamond industry following Anglo-America's decision to divest from the De Beers Group, the Government of Botswana, exercising its right of first refusal on De Beers shares, has confirmed this week that it will prioritise increasing its stake in the diamond giant.

At the Future of Mining Summit this week, Minister of Minerals and Energy Lefoko Moagi said that the de-merger decision by Anglo has excited the government, which will tussle to protect its shareholding and up its stake in De Beers.

“It’s about time people in the diamond forte come in and play into the space, we are prepared and doing our work to ensure that when those shares are offered to us we are there as Botswana government to take them,” he said. “We will immediately raise our hand and we will seek partners with patient capital to invest,” Moagi said.

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