Editor’s Note
This article reports on Angola’s unexpected announcement at the Mining Indaba 2026 conference of its intent to acquire a significant stake in Anglo American, the parent company of De Beers. This move signals a major strategic shift for the diamond-producing nation.
The news has shaken the small world of operators and trading companies participating in the major gathering of the mining industry on the Continent, Mining Indaba 2026, currently being held in Cape Town, South Africa. A major diamond producer, Angola announced this morning that it intends to acquire 20 to 30% of the shareholding in the Anglo American group, the parent company of De Beers, the global diamond benchmark.
Cape Town, February 9, opening of Mining Indaba, the world’s largest gathering dedicated to mining investment in Africa.
Luanda has revised its ambitions upwards, now aiming for a majority stake in De Beers’ capital, whereas initially, the Angolan government stated it was content with a minority stake.
Paulo Tanganha, National Director of Mineral Resources, had even confided to the Reuters agency last autumn. Since then, Luanda has changed gear despite the drop in diamond prices on the international market. An offer to acquire a stake of between 20 and 30% is on the table, and
the Angolan official specified.
The South African group De Beers is one of the world’s leading diamond companies. It operates in Botswana, Namibia, Angola, South Africa, and Canada. The company was put up for sale in a context of falling diamond prices and the rise of synthetic diamonds. Angola’s ambition for a majority stake in De Beers could expose the country to a potential bidding war with Botswana, which holds 15% of the company. Gaborone had also indicated that it was working on acquiring a majority stake in the company.
The Director of Mineral Resources at the Angolan Ministry of Mines revealed that closed-door discussions are ongoing between Botswana, Angola, Namibia, and South Africa to find a common position on how each country would benefit from a stake in De Beers, but that no agreement has been reached yet.
emphasized Tanganha, who concedes that he is not certain of the success of these negotiations. It is through the public diamond mining company Endiama and its national diamond trading company Sodiam that Luanda is expected to acquire the majority stake in De Beers.
Last year, the Angolan joint venture between De Beers and Endiama discovered a new kimberlite deposit in the country, a first in thirty years. This demonstrates the geological potential of this still underexplored region. Kimberlite is a rare rock from which diamonds are extracted.