Angola makes bold move to acquire De Beers stake amid strategic shift

Angola has launched a significant bid to purchase the 85 % stake in diamond producer De Beers currently held by Anglo American plc. The Angolan state-owned gem company Endiama has submitted a proposal and is advancing talks, according to its CEO José Manuel Ganga Júnior.

Anglo American valued De Beers at approximately US$4.9 billion, after recording impairments amounting to US$3.5 billion over the past two years. Anglo American has…