International News

Botswana pursuing a controlling stake in De Beers

Government of Botswana moves to secure control of De Beers amid falling diamond revenues.

Published

1 year ago

July 28, 2025

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.

International News

Mehul Shah (WFDB/BDB) and Kirit Bhansali (GJEPC) Elected To CIBJO Board Of Directors At Centenary Congress In Vicenza

Indian Now Has Four Representatives On Board Of The World Confederation. Enhanced Collaboration Will Increase Transparency and Strengthen Consumer Confidence.

Published

23 hours ago

September 9, 2026

JewelBuzz Spread The Buzz

Mehul Shah, President WFDB & Vice President BDB, and Kirit Bhansali, Chairman GJEPC were elected by the CIBJO General Assembly to the Board of Directors of The World Jewellery Confederation (CIBJO) at the organisation’s Centenary Centenary Congress which concluded in Italy on September 7. They join Pramod Agarwal, former GJEPC Chairman, who was re-elected as Vice President of the global body and Vaishali Banerjee, MD India of PGI was also elected to the Board.

Dr Gaetano Cavalieri was re-elected unopposed as President, while Jonathan Kendall and Kenneth Scarratt were re-elected to the other two posts of Vice President. The Board has a total of 30 members.

CIBJO is the oldest global organization in the world gem and jewellery industry and is acknowledged for its stellar role in helping standardize guidelines and nomenclature used by the gem and jewellery trade worldwide. The organization publishes Blue Books and Retailer’s Guides for different industry verticals, drafted by members of its Trade Commissions who are experts in their fields. These are regularly updated at the World Congresses, which are held every few years.

Mehul Shah, who addressed the Opening Session of the Centennial Congress, congratulated the body on being recognised by the United Nations Economic and Social Council in 2006 as a technical expert and advisor, and called for stronger collaboration between CIBJO and diamond industry bodies like WFDB and BDB.

During the Congress deliberations, Mr Shah also strongly urged the body to adopt clear guidelines to differentiate gemstones produced in the laboratories that may appear identical to natural gemstones.

MR Shah said:

“There is a need for greater clarity and transparency in communicating these differences to the consumers so that they understand that these are actually two different products and address different consumer bases.”

Mehul Shah focused on the strong growth in the Indian market where demand was increasing about 10% year-on-year. “India is now the second largest consumer market in the world. “The election of a number of leaders from Indian trade bodies to the CIBJO Board is significant, because our country is both a leading manufacturer-exporter of diamonds, jewellery and coloured gemstones, as well as a rapidly growing consumer market for these products,” Mr Shah said soon after the election.

He endorsed the other panellists’ views that demand and prices were stabilising worldwide. The panel also urged the industry to boost its marketing activity.

He pledged to strengthen the collaboration between the global diamond industry and CIBJO across the world and in India, and work for enhancing consumer confidence in the gem and jewellery industry.