Botswana and Angola are preparing for high‑stakes discussions in Gaborone as both nations vie for control over De Beers, the diamond giant currently owned by Anglo American. Botswana, which contributes around 70 % of De Beers’ annual rough diamond output and holds a 15 % stake, views the company as a strategic national asset amid a downturn in global diamond prices.
Angola originally sought a minority stake but has since moved to submit a bid for a majority share, raising the possibility of a bidding duel between the two Southern African nations.
The meeting will be attended by Botswana’s Mines Minister Bogolo Joy Kenewendo and Angola’s Minister of Mineral Resources, Diamantino Pedro Azevedo. According to the programme made public by Botswana’s mines ministry, the meeting begins at 08:00 GMT and will be followed by a visit to Botswana President Duma Boko before the Angolan delegation departs.
Anglo American has valued De Beers at approximately US $4.9 billion as part of its strategy to divest from its diamond unit and shift focus to other minerals and sectors.
If Botswana secures a controlling stake, it could deepen its control over diamond production, refining and marketing. Meanwhile, Angola is proposing an alternative approach: establishing a pan‑African consortium involving Angola, Botswana, Namibia and South Africa to jointly own and manage De Beers, thereby ensuring no single country dominates.
This negotiation highlights the broader trend of African nations seeking greater sovereignty over their natural resources and value chains, even as they face a challenging future for diamonds due to declining demand and rising competition from lab‑grown alternatives.