CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks. Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
Open platformOpen platform

Angola seeks 10% stake in De Beers under Anglo's proposed exit

By Reuters News

JOHANNESBURG, Nov 13 (Reuters) - Angola is seeking a 10% holding in De Beers as part of Anglo American's AAL.L proposed sale of its stake in the major diamond producer, a mines ministry spokesperson told Reuters on Friday.

Anglo American put De Beers, which operates and explores for diamonds in Botswana, Namibia, Angola, South Africa and Canada, up for sale in 2024 as part of a broader restructuring amid falling diamond prices and growing competition from synthetic stones.

Botswana, which had the right of first refusal on Anglo American's stake, has backed the deal, saying it will double its holding to 30%.

Angola's mines ministry spokesperson was confirming a report in weekly newspaper Novo Jornal.

The report said Namibia was also seeking a 10% stake in De Beers.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.