Angola has entered the race to secure a controlling share in global diamond producer De Beers, making a formal approach to acquire the 85 percent stake currently owned by Anglo American plc. The proposal was submitted by Endiama, the country’s state-run diamond enterprise.
According to Endiama’s leadership, negotiations are progressing as Angola positions itself to take a more assertive role in the international diamond market.
Divestment opens the door
Anglo American has been working to offload its majority interest in De Beers for more than a year, as part of a broader portfolio reshuffle. The mining conglomerate recently assessed the diamond unit at roughly $4.9 billion after writing down $3.5 billion in impairments over the past two years.
This valuation has set the stage for potential buyers to compete for control of one of the world’s most recognizable diamond brands.
Competition with Botswana
Angola’s move places it alongside other potential bidders, notably the government of Botswana, which already holds a 15 percent share in De Beers. Botswana retains a contractual right to match competing offers, giving it strategic leverage in the process.
President Duma Boko has framed any decision regarding the stake as a question of national economic independence, underscoring the political and financial significance of the transaction.
Strategic recalibration in Luanda
Angola’s interest marks a notable evolution in its diamond policy. Rather than pursuing a limited partnership, Luanda now appears prepared to seek full managerial influence over De Beers. Such a move could provide Angola with access to advanced extraction techniques, established global marketing channels and downstream value-chain expertise.
For Angola, one of Africa’s key diamond producers, greater control over an internationally established mining group could accelerate sector development and strengthen its position in global markets.
Although discussions remain confidential and Anglo American has not publicly detailed the negotiations, the potential takeover represents a high-profile contest within southern Africa’s mining industry—one that could reshape regional dynamics in the diamond trade.
