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Anglo American’s divestment of De Beers will be “substantively complete” by the end of this year: Anglo CEO

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Anglo American is working to maximize its value in case a new merger and acquisition (M&A) suitor emerges and expects significant progress this year on the anticipated spin-off of its De Beers diamond business, CEO Duncan Wanblad stated on Monday.

Anglo American’s divestment of De Beers will be “substantively complete” by the end of this year, according to Anglo CEO Duncan Wanblad.

He also said the 136-year-old diamond miner would be “fully set up as a standalone business”, to ensure it didn’t have a negative impact on Anglo’s operations.

Wanblad  said the Botswana government was keen to increase its 15 per cent stake in De Beers. Botswana and De Beers announced earlier this week that they had finally reached a long-term agreement on sales of rough diamonds from Debswana, their joint venture.

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DiamondBuzz

Botswana  Stepping Up Diplomatic Efforts To Complete The Removal Of US Tariffs

Botswana Leverages Critical Minerals To Push For The Full Removal Of US Tariffs On Diamond Exports

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Botswana is stepping up diplomatic and trade efforts to secure the complete removal of US tariffs on its diamonds and other key exports, underscoring the move as vital to regaining its competitive edge in the global market. Minerals and Energy Minister Bogolo Kenewendo has reiterated the government’s firm stance that negotiations will continue until all tariffs are eliminated.

Currently subject to a 15% tariff—down from a steep 37% imposed in April 2025 and later reduced in August—the country has formally submitted its proposals and requests to the United States and is awaiting a response. The government has maintained a consistent position that the remaining tariff continues to hinder Botswana’s export potential, particularly in the diamond sector, where it ranks as the world’s second-largest producer after Russia.

To strengthen its negotiating position by positioning itself as a reliable supplier of both diamonds and essential minerals, Botswana aims to become the first African diamond-producing nation to achieve a tariff-free trade arrangement with the US, a move that could significantly enhance its long-term trade prospects and economic resilience.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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