Angola seeks 20%-30% stake in De Beers, senior official says

Angola is seeking a 20%-30% stake in De Beers, currently for sale by Anglo American due to falling diamond prices. Initially aiming for a majority stake, Angola's mining official Paulo Tanganha emphasized the need for a sustainable investment range. Ongoing discussions with Botswana, Namibia, and South Africa aim to establish a unified approach to the acquisition. Angola's state-owned diamond entities, Endiama and Sodiam, will represent the government in this endeavor. The country has various funding sources for the acquisition, which follows a recent discovery of a new kimberlite cluster in Angola.