Angola’s state diamond company Endiama has bid for a minority stake in Anglo American’s diamond unit De Beers, the African country’s ministry of mineral resources, petroleum and gas said on Wednesday.
De Beers, which was put up for sale by Anglo as part of a major restructuring, has attracted interest from at least six consortia. It has operations spanning Botswana, Namibia, Angola, SA and Canada.
Angola’s proposal does not seek majority control of Botswana-based De Beers but instead believes it should continue to be a privately owned firm, the ministry said.
“Our bid is designed to foster a partnership in which Botswana, Namibia, SA and Angola all participate meaningfully — ensuring that no single party dominates and that the company can grow as a truly international commercial entity,” said Diamantino Pedro Azevedo, Angola’s minister of mineral resources, petroleum and gas.
Botswana, which owns 15% of De Beers, is seeking to take a controlling stake in the company, according to media reports.
Reuters
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