Botswana and Global Diamond Consortium Near De Beers Deal

The Government of Botswana and the Global Diamond Consortium are nearing an agreement regarding their future ownership stakes in the diamond miner De Beers. The Global Diamond Consortium, led by former De Beers Chief Executive Officer Gareth Penny, became the preferred bidder for the company in July.

Reaching a resolution with Botswana is critical to the transaction because the country hosts the miner's most important mines and the government currently holds a 15% stake. A finalized agreement between these parties would facilitate the complete exit of Anglo American plc from the diamond mining business.