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De Beers sale was a focal issue at Mining Indaba conference

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The prospective sale of De Beers was clearly on the minds of attendees at this week’s Mining Indaba conference, with Anglo American CEO Duncan Wanblad calling the process “relatively far advanced,” an Angolan minister discussing what his country wants, and former De Beers chief Gareth Penny  spelling out his ideas for the company.

Wanblad told the Financial Times that he hopes Anglo’s 85% stake in De Beers will be sold sometime this year, with the buyer most likely some form of public-private partnership. Any deal will “almost certainly” include Botswana boosting its current 15% stake in De Beers.

Meanwhile, Paulo Tanganha, national director of mineral resources for a different diamond-producing nation, Angola, told Reuters that his country hopes to purchase 20% to 30% of De Beers, a change from previous reports that Angola was seeking majority ownership.He declined comment on how Angola would fund its stake.

Also during the Cape Town conference, Penny—who is involved with one of the groups that hopes to purchase De Beers—was of the opinion that the diamond industry needs a big global leader, and that it needs to be De Beers.

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DiamondBuzz

VBJ Partners With Ignition 2026 To Celebrate Ideas, Culture and Craftsmanship

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VBJ, Vummidi Bangaru Jewellers, one of South India’s most trusted heritage jewellery brands, partnered with IGNITION, the acclaimed thought leadership platform presented by the Shiv Nadar Foundation and curated by award-winning journalist Shoma Chaudhury. Held at ITC Grand Chola, Chennai, the event brought together distinguished voices from diplomacy, cinema and international affairs, while VBJ showcased its latest PARRO – Signature Collection, celebrating exceptional craftsmanship inspired by nature.

The evening featured compelling conversations with Dr. Abdul Majid Hakeem Ilahi, representative of Iran’s Supreme Leader, who shared perspectives on the evolving geopolitical landscape in West Asia; acclaimed actor Ali Fazal, who reflected on his artistic journey from Indian cinema to Hollywood; and former Foreign Secretary Vijay Gokhale, who discussed the changing global order and insights from his latest book, China’s Wars.

Adding an artistic dimension to the evening, VBJ unveiled a curated display of its PARRO – THE SIGNATURE PARROT COLLECTION, an exclusive line inspired by the grace, vibrancy and symbolism of the parrot. Combining intricate craftsmanship with contemporary design sensibilities, the collection reflects VBJ’s enduring commitment to transforming nature into timeless wearable art.

Speaking on the occasion, Amarendran Vummidi, Managing Partner, VBJ, said:

“IGNITION has established itself as a platform where influential voices come together to spark conversations that shape perspectives. At VBJ, we believe that meaningful ideas and enduring craftsmanship both have the power to inspire generations. Our continued association with IGNITION reflects our commitment to supporting platforms that celebrate excellence, dialogue and creativity.”

Jithendra Vummidi, Managing Partner, VBJ, added:

“The PARRO collection embodies our pursuit of artistry that is rooted in heritage yet resonates with contemporary lifestyles. Presenting it at IGNITION, a forum that celebrates ideas, innovation and culture, is a fitting way to showcase how timeless craftsmanship continues to evolve while staying true to its origins.”

As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage. Continuing this legacy, VBJ is now set to unveil its largest jewellery showroom on Coimbatore’s 100ft Road.

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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.

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