{"id":8794,"date":"2024-06-11T08:10:38","date_gmt":"2024-06-11T08:10:38","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=8794"},"modified":"2024-06-11T08:12:03","modified_gmt":"2024-06-11T08:12:03","slug":"botswana-seeks-a-larger-stake-in-de-beers-following-anglo-americans-planned-divestiture","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2024\/06\/11\/botswana-seeks-a-larger-stake-in-de-beers-following-anglo-americans-planned-divestiture\/","title":{"rendered":"Botswana seeks a larger stake in De Beers following Anglo American&#8217;s planned divestiture."},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-large is-resized has-custom-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-1024x683.jpeg\" alt=\"\" class=\"wp-image-8796\" style=\"border-width:3px;border-radius:5px;width:631px;height:auto\" srcset=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-1024x683.jpeg 1024w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-300x200.jpeg 300w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-768x512.jpeg 768w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-1536x1024.jpeg 1536w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-2048x1365.jpeg 2048w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-200x133.jpeg 200w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/06\/IMG-1-600x400.jpeg 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Mokgweetsi_Masisi\" target=\"_blank\" rel=\"noreferrer noopener\">President Mokgweetsi Masisi<\/a> confirmed these intentions on Monday during a political rally near Gaborone, according to Bloomberg.<\/p>\n\n\n\n<p>&#8220;We are going to increase the shares that we have in <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>,&#8221; <a href=\"https:\/\/en.wikipedia.org\/wiki\/Mokgweetsi_Masisi\" target=\"_blank\" rel=\"noreferrer noopener\">Masisi<\/a> announced. He emphasized that the government would be pivotal in selecting a new investor to succeed <a href=\"https:\/\/www.angloamerican.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anglo American<\/a>, prioritizing those who understand the diamond industry&#8217;s cyclical nature.<\/p>\n\n\n\n<p>Currently, Botswana holds a 15% stake in <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>, which is the largest diamond miner globally by value. The country also contributes 70% of <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>&#8216; annual rough diamond supply.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.angloamerican.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anglo American<\/a> recently disclosed plans to sell or spin off its 85% stake in <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>, following an unsolicited takeover bid from BHP (ASX: BHP). <a href=\"https:\/\/www.angloamerican.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anglo American<\/a> acquired its majority stake in 2011, purchasing the Oppenheimer family&#8217;s 40% share for $5.1 billion.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a> plays a crucial role in Botswana\u2019s economy. In January, the company committed $1 billion to extend the life of its flagship Jwaneng mine by transitioning to underground operations. This extension has been planned since 2010 and aims to sustain the productivity of Jwaneng, the world\u2019s richest diamond mine by value.<\/p>\n\n\n\n<p>Debswana, a joint venture between the Botswana government and <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>, constitutes a significant part of the national GDP and is vital to <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a>, providing nearly half of the company\u2019s annual diamond output.<\/p>\n\n\n\n<p>In anticipation of its separation from <a href=\"https:\/\/www.angloamerican.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anglo American<\/a>, <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a> is also phasing out its lab-grown diamond jewelry line, <a href=\"https:\/\/lightboxjewelry.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Lightbox<\/a>, which was launched in 2018. The company will review the unit after selling off the current inventory, which is expected to take about a year.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a> aims for annual core profits of $1.5 billion by 2028. Despite only making $72 million last year, its historical profits have fluctuated between $500 million and $1.5 billion due to the diamond market&#8217;s volatility.<\/p>\n\n\n\n<p>As <a href=\"https:\/\/www.debeersgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">De Beers<\/a> prepares to operate independently once more, Botswana remains its significant shareholder, alongside <a href=\"https:\/\/www.angloamerican.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anglo American<\/a>\u2019s stake acquired just 13 years ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Mokgweetsi Masisi confirmed these intentions on Monday during a political rally near Gaborone, according to Bloomberg. &#8220;We are going to increase the shares that we have in De Beers,&#8221; Masisi announced. He emphasized that the government would be pivotal in selecting a new investor to succeed Anglo American, prioritizing those who understand the diamond [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Botswana seeks a larger stake in De Beers following Anglo American&#039;s planned divestiture. - JNI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jewellerynewsindia.com\/index.php\/2024\/06\/11\/botswana-seeks-a-larger-stake-in-de-beers-following-anglo-americans-planned-divestiture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Botswana seeks a larger stake in De Beers following Anglo American&#039;s planned divestiture. - JNI\" \/>\n<meta property=\"og:description\" content=\"President Mokgweetsi Masisi confirmed these intentions on Monday during a political rally near Gaborone, according to Bloomberg. &#8220;We are going to increase the shares that we have in De Beers,&#8221; Masisi announced. 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