Angola has bid for a majority stake in Anglo American (AAL.L), unit De Beers, a source familiar with the matter told Reuters on Friday, setting up a potential standoff with neighbouring Botswana, which is also seeking control of the diamond producer.
De Beers, one of the world’s leading diamond companies, operates in Botswana, Namibia, South Africa, and Canada.
The source said Angola’s state-owned diamond company Endiama had submitted the offer, confirming a report by Bloomberg News.
De Beers is jointly exploring for diamonds in Angola with Endiama and in August, announced the country’s first kimberlite field discovery in three decades. Kimberlite is an igneous rock that can contain the precious stones.
DE BEERS UP FOR SALE AS DIAMOND PRICES DROP
De Beers, put up for sale by Anglo amid falling diamond prices, had attracted interest from at least six consortia, according to a Reuters report in June.
Anglo values De
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