Exclusive-Angola seeks 20%-30% stake in De Beers, senior official says

The Republic of Angola is officially seeking to acquire a strategic equity stake of between 20% and 30% in De Beers, the world’s leading diamond producer, according to statements made by a senior Angolan official in Luanda this week. This move comes as the southern African nation identifies a unique opportunity to strengthen its position in the global gemstone market while Anglo American, the current majority owner of De Beers, prepares to divest or demerge the diamond unit as part of a massive corporate restructuring. Historically one of the world's most significant diamond producers by value, Angola aims to leverage this transition to gain more direct control over the downstream supply chain and marketing of its natural resources. Industrial experts suggest that Angola's interest is a bold play to secure its economic future amid a volatile period for the luxury goods sector. The proposal follows Anglo American's decision to fend off a $49 billion takeover bid from BHP Group by announcing its own plan to simplify operations, which includes offloading its 85% stake in De Beers. For Angola, becoming a significant shareholder would mean transitioning from a primary excavator to a pivotal decision-maker in the global diamond trade, mirroring the successful partnership model established between De Beers and the government of Botswana. While the exact financial terms of such an acquisition have not been disclosed, the entry of the Angolan government into the shareholding structure would fundamentally shift the power dynamics of the industry. Currently, De Beers is 85% owned by Anglo American and 15% by the Republic of Botswana. If Angola successfully negotiates a 20% to 30% stake, it would likely require a complex renegotiation of existing agreements and potentially a joint venture involving multiple state entities. This acquisition bid signals Angola’s broader ambition to modernize its mining sector and attract further foreign investment by demonstrating its capacity for high-level corporate ownership in the international arena.