Botswana is considering whether to pursue control of De Beers after Anglo American selected a consortium reportedly led by the diamond company’s former chief executive as its preferred buyer.
The decision could give Botswana, one of the world’s most important diamond-producing countries, a decisive role in determining who owns one of the industry’s most recognisable businesses.
Anglo American currently owns 85% of De Beers, while Botswana holds the remaining 15%.
However, Botswana has a right of first refusal over Anglo’s stake. It can exercise that right alone, work with another investor or join the Global Diamond Consortium selected by Anglo.
Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa, told lawmakers on Friday that Anglo had chosen the consortium after a competitive process involving three shortlisted bidders.
