DiamondBuzz
Angola’s ENDIAMA submits fully financed bid for De Beers stake
Angola’s state-owned diamond company ENDIAMA has submitted a fully financed bid to acquire a strategic minority stake in De Beers, as Anglo American prepares to exit the business by end-2025.The Angolan government stressed that the move is not aimed at majority control but at building a pan-African ownership model to secure De Beers’ independence and competitiveness. ENDIAMA said it is open to working with both governments and private investors to ensure De Beers’ continued position as a globally competitive diamond major.
Highlights of the bid:
- Independent, diversified ownership to support long-term growth.
- Pan-African partnership across leading producer nations.
- Angola’s track record as one of the world’s top diamond producers and home to the only world-class mine opened in the last 15 years.
- Strategic commitment to diamonds as a cornerstone of its economy.
The move comes the same week that Botswana, already a 15% shareholder, said it wanted a controlling stake in De Beers. Angola is pushing instead for a shared structure, with Botswana, Namibia, South Africa and Angola holding meaningful positions.
Angola is Africa’s leading diamond producer by value, with output last year surpassing Botswana’s production for the first time in two decades, according to the latest report by the Kimberley Process, an international certification program.De Beers and Angola have been partners since 2022, when they signed exploration agreements later expanded to cover processing. Their collaboration yielded the first significant kimberlite discovery in the country in more than 30 years, announced last month.De Beers chief executive Al Cook at the time called Angola “one of the best places on the planet to look for diamonds.”
DiamondBuzz
De Beers Sale Could Take 18 Months To Clear Regulatory Hurdles: Duncan Wanblad
The strategic divestment of De Beers highlights the persistent friction between corporate portfolio optimization and multi-jurisdictional regulatory compliance.
The long-awaited sale of De Beers could easily take 18 months to clear regulatory hurdles, says Duncan Wanblad, CEO of parent company Anglo American, once a deal is finally agreed.
Wanblad has, however, insisted that the company is not exclusive with any consortium and that more than one group remains involved in the process.
The strategic divestment of De Beers by Anglo American highlights the persistent friction between corporate portfolio optimization and multi-jurisdictional regulatory compliance.
Initiated in May 2024 as part of a sweeping restructuring, Anglo’s decision to offload its loss-making diamond unit was designed to sharpen capital allocation around core, high-margin assets like copper and iron ore.
However, CEO Duncan Wanblad’s candid assessment underscores a critical transactional reality: securing a signed agreement is merely the precursor to a prolonged regulatory clearance phase.
While Anglo American maintains a target to agree on deal terms by the end of 2026, market expectations regarding transaction completion require re-calibration. Antitrust approvals across key diamond consumption and trading hubs—most notably the United States, China, and the European Union—could extend the execution window by up to 18 months post-signing.
Given De Beers’ historical market concentration and influence across global supply chains, international competition authorities will undoubtedly subject any structural change in ownership to intense scrutiny.
Although the Global Diamond Consortium, spearheaded by former De Beers managing director Gareth Penny, has positioned itself as a primary contender, Anglo American has deliberately avoided granting exclusivity. While maintaining multiple bidding tracks preserves commercial leverage, it delays the precise regulatory preparation required for closing. Formal filings cannot be finalized until the specific jurisdictional footprint and capital background of the acquiring consortium are locked in.
-
National News21 hours agoMMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
-
International News21 hours agoGJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
-
National News2 days agoWAMIQA GABBI Appointed First National Brand Ambassador Of EVERLITE BY SENCO
-
BrandBuzz3 hours agoVerlas Redefines Rakhi Gifting With Fine Jewelry That Lasts Beyond The Festival
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.