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By Newz.Africa Business Desk | Luanda, Angola |10 February 2026 | Angola diamond stake
Angola’s bid to secure a 20 to 30 percent stake in De Beers has drawn public scrutiny across Africa. The move, discussed with Botswana, Namibia, and South Africa, is viewed as a significant step in reshaping diamond ownership.
Angola’s diamond history stretches back to 1912, when deposits were first discovered in the Lunda region. The Portuguese colonial administration quickly recognised their value, establishing the Companhia de Diamantes de Angola (Diamang) in 1917 with exclusive mining rights.
Production expanded through the mid‑20th century, but the civil war from 1975 to 2002 disrupted operations and fuelled illicit trade, with UNITA rebels selling diamonds to finance conflict. After peace was restored in 2002, Angola rebuilt its industry through joint ventures and state‑owned firms such as Endiama, positioning itself as one of Africa’s leading producers.
Angola diamond stake talks prompt expert commentary
Paulo Tanganha, Angola’s national director of mineral resources, confirmed in Cape Town that the country had scaled back its ambitions from majority control. “Taking the majority stake within luxury commodities is very dangerous because it depends on the market,” he said.
Public commentary has been divided. Analysts in Luanda argue that Angola’s revised position could strengthen regional bargaining power. Others caution that shared ownership may limit national influence. The African Mining Institute noted that the debate reflects growing awareness of resource nationalism among citizens.
Regional perspectives on diamond ownership
Botswana, already holding 15 percent of De Beers, has signalled interest in a controlling stake. Experts in Gaborone say Angola’s revised approach reduces the risk of a bidding war. Namibian trade unions have welcomed the idea of collective African ownership, citing job security and stable revenues.
South African commentators highlight broader implications. The Johannesburg Chamber of Mines said the talks show a shift toward retaining value within Africa. Public debate has centred on whether collaboration can withstand pressures from synthetic diamonds and declining demand.
Original Reporting:
- Verified Angola’s official statements at the Cape Town mining conference; reviewed Anglo American’s divestment notice; included direct quotes from Paulo Tanganha.
- Primary artefact: Statement by Angola’s Ministry of Mineral Resources at African Mining Indaba, Cape Town, February 2026.
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