International News
Botswana pursuing a controlling stake in De Beers
Government of Botswana moves to secure control of De Beers amid falling diamond revenues.
The government of Botswana has indicated that it is actively pursuing a controlling stake in De Beers, ahead of the 1 August deadline for bids to be submitted to parent company Anglo American. Botswana relies heavily on diamonds – they account for approximately 80 per cent of export earnings and about 30 per cent of GDP, but revenues halved last year amid a global downturn in demand.
Botswana seeks not only ownership, but also full control over the company’s production, marketing, and value chain- strategic shift reflecting both economic ambitions and frustration over Anglo American’s handling of the proposed transaction.
Botswana mining minister Bogolo Kenewendo said : “President Duma Boko remains resolute in his quest to increase Botswana’s stake in De Beers to ensure Botswana’s full control over this strategic national asset and the entire value chain including marketing”.
Anglo American’s official book value for De Beers, after asset impairments in early 2025, stands at $4.1bn, although market analysts suggest it could sell for less. Botswana currently holds a 15 per cent stake in De Beers and a 50 per cent stake in Debswana, a diamond mining joint venture with De Beers.
Anglo American aims to sell off its 85 per cent stake in De Beers by the end of 2025 as it restructures and focuses on copper and other minerals that are more profitable than diamonds.
In February De Beers and Botswana signed a long-delayed agreement that will see Botswana’s share of rough diamonds increase from 25 per cent to 50 per cent over the next decade and De Beers invest in diversification into developing its economy beyond diamonds.
De Beers suffered a $288m net loss in 2024, primarily the result of a 44 per cent plunge in diamond sales. Kenewendo said.
DiamondBuzz
Lost Florentine Diamond Resurfaces in Canada After a Century, Tracing Its Glittering Origins to India’s Golconda Mines
Once a royal treasure of the Medici and Habsburg dynasties, the 137.27-carat gemstone reemerges in a Montreal vault, reaffirming India’s Golconda as the cradle of the world’s most storied diamonds.
The legendary Florentine Diamond — a 137.27-carat light yellow gemstone believed to have originated from India’s famed Golconda mines — has been rediscovered in a Canadian bank vault, ending over a hundred years of intrigue surrounding its disappearance.
According to recent reports, the diamond—once among Europe’s most celebrated royal jewels—was located in a vault in Montreal, safeguarded for decades by descendants of the Austrian imperial Habsburg family. The gemstone vanished after the fall of the Austro-Hungarian Empire in 1918, following Emperor Charles I’s exile, sparking decades of speculation over its fate — whether it was stolen, lost, or secretly sold.
Historians now confirm that Empress Zita, widow of Charles I, discreetly transferred the diamond to Canada during World War II for safekeeping. Its authenticity was recently verified by a European jewellery house that historically served the Habsburg court, confirming the gem’s provenance and preservation.
Renowned for its pale yellow hue and unique double-rose cut with 126 facets, the Florentine Diamond boasts a storied history — from its origins in India’s Golconda mines, to the Medici treasury in Florence, and later as part of the Austrian Crown Jewels in Vienna.
Its rediscovery has reignited global fascination with India’s gem legacy, which gave birth to other iconic diamonds like the Koh-i-Noor, Hope, and Nassak. Experts say the find underscores the importance of provenance and gem heritage in an increasingly globalised jewellery market.
The Habsburg family has announced plans to publicly exhibit the diamond in Canada next year, with potential displays in Europe to follow.
After more than a century of obscurity, the reemergence of the Florentine Diamond not only restores a lost royal masterpiece but also revives India’s enduring connection to the world’s most illustrious jewels.
Lost Florentine Diamond Resurfaces in Canada After a Century, Tracing Its Glittering Origins to India’s Golconda Mines
P N Gadgil Jewellers Reports 127% Surge in PAT for Q2 FY26; Strong Growth Across Retail, E-commerce, and Franchise Segments
Finance Ministry Official Visits GJEPC Head Office
-
BrandBuzz2 days agoVBJ SINCE 1900 Fiesting Over 2000 Unique Jhumka Designs
-
National News5 hours agoIndriya unveils Rajashree, the Bridal Collection of Maharashtra
-
BrandBuzz6 hours agoIndriya unveils Raasvi, the Bridal Collection of Gujarat
-
BrandBuzz5 hours agoMalabar Gold & Diamonds Unveils ‘Chitrangi’ — A Collection That Weaves The Poetry of Tradition Into Every Jewel
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.