Botswana President Mokgweetsi Masisi says his country will be involved in determining the future of De Beers to protect its interests amid talks of a potential selling of the diamond giant by Anglo American, which is also a subject of takeover by the BHP Group.
Anglo has an 85% stake in De Beers while the Botswana government own the remaining 15% equity.
The BHP proposed a $39 billion takeover of Anglo but would be less interested in the group’s diamond and platinum business.
“There is no way we will allow ourselves to be redundant so Botswana will respond in ways that are protective of its interests and through the processes that we know best to talk to people and strike deals so we are well aware of what is going on,” Masisi told CNBC Africa.
Asked whether Botswana had been approached by De Beers and Anglo American, he said not as yet but they remain appraised of what is going on.
“I want to state for the record that the value of De Beers is fundamentally created by Botswana that can never be missed by anybody,” he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
