Boko Says Botswana Plans to Raise De Beers Stake to 30%

Botswana plans to raise its stake in De Beers to 30% from 15%, President Duma Boko announced, a move that could help advance the proposed sale of Anglo American’s interest.

The earlier proposed stake target was about 25% from 15%, compared with the newly announced 30% target. Global Diamond Consortium had been named the preferred bidder for De Beers.

The sale of Anglo American’s interest remains proposed and has not been finalized. Botswana’s backing could help advance the sale, but Boko’s announcement does not confirm that Anglo American has completed its exit.