DiamondBuzz
Botswana could buy De Beers outright, looks towards greater control of diamond sector
The government of Botswana could buy an additional stake in De Beers, or even acquire the business outright, according to a Financial Times (FT) report. Full control over De Beers would allow Botswana to capture a larger share of value across the diamond supply chain — from production to marketing and distribution.
The southern African nation’s government appointed the French investment bank as co-adviser, alongside Swiss boutique lender CBH Compagnie Bancaire Helvétique, regarding “the potential acquisition of all or part of the De Beers Group”. The news follows last week’s announcement that Botswana had secured a $12bn investment commitment from Qatar-based Al Mansour Holdings to help stabilize its faltering economy.
In July, Botswana’s mining minister Bogolo Kenewendo reaffirmed President Duma Boko’s determination to expand the country’s stake in De Beers, signaling a clear policy direction towards greater national control of the diamond sector.
Anglo American, which is looking to sell its stake in De Beers, received approximately nine indications of interest in first-round bids this month, the Financial Times reported, citing unidentified people familiar with the process.
The Botswanan government holds a significant position in the potential transaction as it has the right to match any third-party offer for the diamond company.This development comes as Anglo American continues its divestiture process for its De Beers ownership stake.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
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