Endiama, a diamond miner in Angola, wants a small share of De Beers

The African nation’s Ministry of Mineral Resources, Petroleum, and Gas announced on Wednesday that Endiama, the state diamond corporation of Angola, had placed a bid for a minority investment in Anglo American’s (AAL.L) new tab diamond unit De Beers.

One of the top diamond corporations in the world, De Beers operates in South Africa, Namibia, Angola, Botswana, and Canada.

According to a June Reuters article, at least six consortia expressed interest in the diamond company, which Anglo put up for sale amid declining diamond prices.

According to the ministry, Angola’s proposal does not aim for majority ownership in the Botswana-based De Beers, but rather maintains the company’s private sector leadership.

Diamantino Pedro Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, stated, “Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa, and Angola all participate meaningfully – ensuring that no single party dominates and that the company can grow as a truly international commercial entity.”

According to media sources, Botswana, which now owns 15% of De Beers, is also attempting to acquire a majority position in the business.