Angola has confirmed that its state-owned diamond company, ENDIAMA E.P., has submitted a fully financed bid to acquire a strategic minority stake in De Beers. The offer comes as Anglo American plc prepares to divest from the diamond giant by the end of 2025.
The Angolan government emphasised that the proposal is not aimed at gaining majority control. Instead, it advocates for a pan-African, industry-led ownership model to safeguard De Beers’ independence and competitiveness.
“Angola believes De Beers’ future depends on remaining a private-sector-led, global company,” said Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas. “Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa and Angola all participate meaningfully—ensuring that no single party dominates and that the company can grow as a truly international commercial entity.”
Key features of the proposal include:
- Independent, diversified ownership to support long-term growth.
- A pan-African partnership with participation from Botswana, Namibia, and South Africa.
- Angola’s proven growth record, being one of the world’s top diamond producers and the only country to open a world-class mine in the past 15 years.
- A strategic commitment to diamonds as a pillar of its national economy.
ENDIAMA said it is willing to collaborate with governments and private investors to ensure De Beers continues as a globally competitive commercial enterprise.