Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Angola bids for minority stake in De Beers amid global diamond market shifts.

flag Angola’s state-owned diamond company Endiama has submitted a fully financed bid for a minority stake in De Beers, as part of a broader effort to create a balanced partnership among key African diamond-producing nations. flag The move comes as Anglo American prepares to divest its 85% stake in the 137-year-old company amid declining diamond prices and global market challenges. flag Botswana, which currently holds a 15% share, aims to secure a controlling interest, adding complexity to the bidding process. flag Angola’s goal is to ensure De Beers remains a globally competitive, private-sector-driven enterprise without dominance by any single nation. flag The company is also exploring an IPO or demerger, while President Duma Boko seeks U.S. tariff reductions for natural diamonds. flag De Beers recently announced a new kimberlite discovery in Angola, highlighting ongoing exploration and production collaboration.

12 Articles