Angola Seeks 10 Percent Stake in De Beers

The Government of Angola intends to acquire a 10 percent stake in the diamond producer De Beers. This acquisition would occur through a consortium seeking to purchase the 85 percent controlling interest currently held by Anglo American Plc, which is exiting the diamond industry.

To advance the plan, the Global Diamond Consortium, led by former De Beers Chief Executive Officer Gareth Penny, met with Diamantino Pedro Azevedo, Angola's Minister of Mineral Resources, Petroleum and Gas, in Luanda on Thursday. The meeting focused on the logistics and proposal of the acquisition.

Angola's Ministry of Mineral Resources, Petroleum and Gas confirmed the plan following a report published in the local newspaper Novo Jornal.