Botswana to Take Over Majority Ownership of De Beers Mines
Botswana to Take Over Majority Ownership of De Beers Mines By Noko Maleka – Insight Jozi News | 23 September 2025 Botswana is moving decisively to take control of one of the world’s most powerful diamond companies, De Beers, with plans to secure a controlling stake by next month. President Duma Boko confirmed that the government is in advanced talks with a sovereign wealth fund in Oman, alongside other potential financiers, to raise the necessary capital for the acquisition, according to Bloomberg. Currently, Botswana owns a 15% stake in De Beers, but the new deal would increase the nation’s holding to above 50%, making it the majority shareholder (Business Insider Africa). This would mark a bold shift in global mining dynamics, positioning Botswana not only as the world’s top diamond producer by value but also as a powerful decision-maker in the industry. “ We are engaging partners who believe in our vision of national ownership and long-term sustainability for our diamond indust...