Angola submitted a fully financed offer in September this year through its state-owned diamond company, Empresa Nacional de Diamantes de Angola (Endiama), to acquire shares in the context of the global divestment process of Anglo American, the majority shareholder of the multinational diamond company De Beers, with 85% ownership.
“Angola is confident,” stated Jânio Corrêa Victor, speaking to the press at the presentation of the diamond production and marketing balance for the first half of 2025.
According to Jânio Corrêa Victor, “it is Angola’s desire to acquire some shares in De Beers” to enable African countries, which are the largest diamond producers worldwide, to lead the control over “this large multinational.”
The Angolan official emphasized that besides African countries like Angola, Botswana, Namibia, and South Africa, Russia, Canada, and Australia are also leading diamond producers.
“The idea of our Executive is to ensure that there is an African front that controls and acquires shares of this large multinational, De Beers, as our concern is to prevent De Beers from falling into speculative hands that may not give proper treatment to natural diamonds,” said the Angolan Secretary of State for Mineral Resources.
Jânio Corrêa Victor remarked that without going into details about the negotiations, African countries would be the main beneficiaries.
“It would be more beneficial for us if the four countries formed a coalition. This coalition would significantly impact the global diamond market, and that is our desire,” he emphasized.
“The process is ongoing, and Anglo American, which holds an 85% stake, is currently evaluating all requests, and we will wait, but we are confident,” he expressed.
In September, when the Angolan government announced its interest in purchasing shares of Anglo American, it expressed the intention to acquire a strategic minority stake, proposing the creation of a pan-African consortium with other diamond producers, such as Botswana. However, this month, Endiama increased its offer to acquire the entirety of Anglo American’s stake.
Angola, which leads in Africa ahead of Botswana in terms of diamond production value, aims to become the world’s largest diamond producer, said Jânio Corrêa Victor during today’s session addressing the diamond production and commercialization balance for the first half of this year.
“We can proudly affirm that Angola is consolidating itself as an attractive source of gem-quality rough diamonds, reinforcing its strategic position in the international market,” said the Angolan official.
