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.”