Botswana Seeks Control of De Beers

Botswana seeks control of De Beers

Country wants ‘full control over this strategic national asset and the entire value chain, including marketing’, mining minister tells Financial Times

De Beers Expects First-Half Loss Following ‘Stock Rebalancing’

Anglo American will likely report losses at De Beers for the first half of 2025 after the diamond miner sold off some of its rough at low margins.  The parent company appeared to acknowledge the rumored special deals with sightholders under which it had reportedly sold inventory quietly at reduced prices.  De Beers’ consolidated rough-diamond sales — excluding those by its joint-venture partners — rose 14% year on year to $1.19 billion in the se…

Botswana's Government to acquire controlling stake in De Beers

Botswana's Government has expressed its intention to acquire a controlling stake in De Beers.The post Botswana’s Government to acquire controlling stake in De Beers appeared first on Mining Technology.

De Beers to post interim loss as discounts inventory diamonds

ANGLO American on Thursday said its diamond and steelmaking coal businesses would be loss-making in the first half of its financial year. This was owing to poor market conditions for its 85%-owned De Beers and production interruptions for its coal, and comes just as the miner looks to sell both businesses in terms of its portfolio simplification strategy unveiled in May last year. US-backed tariffs dealt a blow to polished diamond trading in the…

Botswana Eyes Bigger Share in De Beers, Engages Swiss Advisers as Anglo Plans Exit - Gambakwe Media

The Botswana government has engaged a team of Swiss financial advisers to explore acquiring a larger stake in diamond giant De Beers, following Anglo American’s indication that it may exit the company.Minister of Energy and Minerals Bogolo Kenewendo confirmed the development, noting that the international advisory team is assisting with strategic options that could potentially see Botswana strengthen its hold over one of the world’s most valuabl…

Botswana seeks control of Anglo's De Beers diamond business, FT reports