The Republic of Angola wants to secure partial ownership of De Beers as Anglo American plc moves to divest its majority stake in the diamond company by end-2025.

Angola said its national diamond firm, Endiama EP, submitted an offer to acquire a “strategic minority stake” in De Beers. The proposal does not seek majority control but the creation of an industry-driven consortium to preserve De Beers’ independence and international competitiveness, added the government.

“De Beers’ future depends on remaining a private-sector-led, global company,” remarked Diamantino Pedro Azevedo, minister of Mineral Resources, Petroleum and Gas. “Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa and Angola all participate meaningfully – ensuring that no single party dominates and that the company can grow as a truly international commercial entity.”

Reports earlier quoted Botswana President Duma Boko as saying that the country is aiming to finalise a deal to secure a majority stake in De Beers by end-October. De Beers, which mines its diamonds in Botswana, Canada, Namibia and South Africa, plays a critical role in Botswana’s economy.

Anglo American announced in 2024 that it was planning to sell its 85 per cent stake in De Beers. The government of Botswana owns 15 per cent of the diamond miner.