BOTSWANA said it’s in talks over increasing its shareholding in De Beers, as Anglo-American Plc prepares to end its almost century-long relationship with the iconic diamond producer.
As part of a turnaround plan to fend off an approach from BHP Group, Anglo last month said it planned to sell or separate De Beers, in which it holds an 85% stake.
The remainder is owned by Botswana, the southern African nation that holds the company’s biggest diamond mines.
“We are going to increase the shares that we have in De Beers,” Botswana President Mokgweetsi Masisi told a political rally in Palapye, about 300 kilometers (186 miles) north of the capital Gaborone.