Gemstones
The world's best-known diamond name is changing hands, and the country that mines most of its stones wants a bigger share.
The sale so far
Anglo American has been selling De Beers, which it wrote down three times in three years, cutting its carrying value to $2.3bn in February 2026, MiningMX reported. In July Botswana's government said Anglo had chosen the Global Diamond Consortium (GDC), led by Gareth Penny and including Namibia and Angola, as preferred bidder. Anglo has discussed a sale price of about $1bn, according to the reports.
Botswana's position
Botswana owns 15% of De Beers and its diamonds are mined through Debswana, a joint venture with the company that runs mines such as Jwaneng. President Duma Boko had sought majority control. Under the arrangement now reported, Botswana, Namibia and Angola together would hold less than half, leaving control with private investors, which some consortium backers require. Vice-President Ndaba Gaolathe had said only that the state wanted "more than 15%". Anglo, the GDC and Botswana's presidential office declined to comment.
The politics of diamonds is being settled in Gaborone.
Why it matters to the jewellery trade
De Beers sells a large share of the world's rough diamonds, and its owners shape how much rough reaches cutters and at what pace. Natural diamond prices have been under pressure from lab-grown stones, which makes the strategy of the new owners important for the whole trade.
If you own a diamond
For an older diamond ring or brooch, cut, colour, clarity and carat weight still decide value, alongside the period and maker of the setting. Old-cut stones from the Georgian, Victorian and Edwardian periods are valued as antiques. Keep any certificate, and send us photographs for a free valuation.
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