Anglo American has identified the Global Diamond Consortium as its preferred buyer for its majority stake in De Beers, Botswana's Minister for State President, Defence and Security Moeti Mohwasa told lawmakers on July 17, 2026. Anglo ran a competitive process involving three shortlisted bidders before selecting the consortium, which proposes to include Angola and Namibia alongside its other members. The transaction is expected to close in the fourth quarter of 2026, subject to conditions including Botswana government approval.
The consortium's specific partners were not disclosed by Mohwasa, but sources previously told Reuters that the two remaining consortia in the running include ex-De Beers CEO Gareth Penny — now chair of asset manager Ninety One — a Qatari investment fund, and Israeli businessman Nir Livnat. Six bidders were in contention in 2025.
Botswana, which holds a 15% stake in De Beers, has three options under its preemption rights: proceed alongside the preferred bidder as a partner, exercise its preemption rights alone, or exercise them with a third party. The government is working with financial advisors to assess the optimal structure.
Anglo American put De Beers up for sale in May 2024 as part of a broader restructuring prompted by falling diamond prices and the growing market share of synthetic diamonds. De Beers holds operations and exploration assets spanning Botswana, Namibia, Angola, South Africa, and Canada. An Anglo American spokesperson said the company was progressing the sale process and would provide updates at the appropriate time.
