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Angola entry heats up De Beers’ bidding war

Friday, September 26, 2025 | 710 Views |

Major plans: Pres Boko wants more control of the diamond ecosystem PIC: DUMA BOKO FACEBOOK

Angola’s “fully financed” bid for a minority stake in De Beers, set against Botswana’s push for majority control, has added heat to the battle for the diamond group, as Anglo American prepares a shortlist of preferred suitors.

Angola represents De Beers’ brightest prospects for the future with the highest chances of hosting the next “megamine,” while Botswana continues to anchor the group’s production, having contributed two thirds of output for decades.

Botswana's mines require billions of Pula in capital to extend their lives for the next couple of decades, while De Beers’ ground in Angola is yet to yield an operation and will similarly require investment going into the future.

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