As part of a strategy to capture more value from its natural resources, the Angolan government is considering acquiring a 20 - 30% strategic stake in De Beers. Officials say discussions are at an advanced stage.

Botswana, already a key shareholder in De Beers, is also seeking to increase its stake. The government currently holds 15% of the company and has expressed interest in expanding its ownership as Anglo American moves forward with plans to sell the diamond business .

Meanwhile, Anglo American CEO Duncan Wanblad said he is optimistic a deal could be signed before the end of the year. 

“At this stage I’m optimistic that we should see a deal signed during the course of this year. We are now really advanced in the second phase of our process,” Wanblad told reporters after the release of the company’s interim results. 

He added that “Botswana is an extremely important and key stakeholder,” noting that its position would be decisive in determining the structure of any final deal. Botswana President Duma Boko has publicly voiced support for increasing the country’s stake.

De Beers, founded more than 135 years ago by Cecil Rhodes in South Africa, has mined hundreds of millions of carats across the continent, particularly in South Africa, Botswana and Namibia, generating tens of billions of dollars in revenue.

However, the diamond market is currently facing headwinds. Wanblad acknowledged uncertainty over De Beers’ valuation following significant write-downs that contributed to Anglo American posting a $3.7 billion loss.

“At the moment there is a plentiful supply of rough diamonds in the market, with Angola ramping up output during the course of the year,” he said, adding that he could not rule out further impairments depending on market conditions .

If Angola secures up to 30% and Botswana increases its holding, the two African producers would collectively control a substantial share of De Beers.

"We are ecstatic about the recovery of this extraordinary 2,492-carat diamond," said Lucara’s head, William Lamb. The discovery was made using Lucara's advanced Mega Diamond Recovery X-ray technology, which has been in use since 2017 to detect and preserve high-value diamonds during the ore-crushing process.

The newly discovered diamond is yet to be fully assessed, so its quality and potential yield remain unknown. However, its size is comparable to the 3,106-carat Cullinan Diamond, the largest ever found, which was discovered in South Africa nearly 120 years ago.

This find surpasses the previous record in Botswana, a 1,758-carat diamond also recovered from the Karowe mine in 2019. Botswana is one of the world’s leading diamond producers, contributing about 20% of global diamond production.

This article highlights the top seven African countries leading in diamond production value according to recent statistics from the Kimberley Process —a collaborative initiative involving governments, industry, and civil society to regulate diamond trade and production.

Below are the top 7 African countries with the highest diamond production values:

Botswana

Botswana leads the continent in diamond production, with its mines valued at $3.28 billion in 2023. The country's diamond industry is a major driver of its economy, providing substantial revenue and employment. The diamond industry accounted for approximately 20% of the country's gross domestic product (GDP) in 2022.

Angola

Angola's diamond reserves are vast, with production valued at over $1.53 billion in 2023. The country has seen significant growth in its diamond sector, thanks to improved extraction technologies and increasing global demand. In 2023, Angola produced approximately 9.8 million carats of diamonds. This marked a 24% increase from the previous year.

Namibia

Namibia employs innovative techniques, including marine diamond mining, contributing to a production value of $1.23 billion in 2023. This approach has positioned Namibia as a key player in the diamond industry. In 2022, Namibia's diamond production amounted to 2.1 million carats, marking a 16.67% increase from 2021.

South Africa

South Africa, with its rich history of diamond mining, remains a major contributor with a production value of approximately $794 million in 2023. South Africa covers 13% of the global diamond production as it produced approximately 5.9 million carats of diamonds in 2023. 5.

Zimbabwe

Zimbabwe's diamond fields, despite being contentious, produced diamonds worth more than $423 million in 2023. The country's diamond production is primarily centred in the Marange diamond fields, located in the Chiadzwa area of the Mutare District. These fields are known for their extensive small-scale diamond production and are considered one of the world's richest diamond deposits. In 2022, Zimbabwe produced approximately 4.5 million carats of diamonds.

Lesotho

Lesotho may produce fewer diamonds, but their exceptional quality adds significant market value, estimated at $138 million in 2023. The country's diamonds are highly sought after for their clarity and size. In 2022, Lesotho's diamond production amounted to approximately 700,000 carats, marking a significant increase from the previous year. The diamond mining industry is a vital part of Lesotho's economy, contributing significantly to local employment and government revenue.

Sierra Leone

Sierra Leone has transformed its diamond industry, moving away from its troubled past to sustainably produce diamonds valued at over $102 million in 2023. One of the most famous diamonds from Sierra Leone is the 709-carat " Peace Diamond ," discovered in 2017. This diamond brought significant attention to the country's diamond sector and highlighted the potential for ethical and transparent mining practices.

Lucapa's newly appointed chairperson, Stuart Brown, hails Angola as the foremost diamond exploration target. He highlights the country's potential for major new diamond deposits and its favourable environment for foreign investment. According to Mining Weekly , the company's focus also extends to Australia and Lesotho, with divestment efforts for the Mothae diamond mine underway. Lucapa remains committed to discovering primary kimberlite sources in Angola. Brown emphasises the company's dedication to its kimberlite exploration program and the potential for significant discoveries.

$421.3 million road project

Angola is investing $421.3 million in a road development programme with funding from Africa Finance Corporation, Standard Chartered Bank, Export-Import Bank of the US, and US Private Export Funding Corporation. Conduril will serve as the primary EPC contractor, with Acrow providing the bridges. In addition to new road construction, the project will include maintenance and resurfacing works. This initiative aims to bolster Angola's economy. According to World Highways , although the capital city, Luanda, is well-developed, much of Angola struggles with inadequate transport connectivity.

Natural gas industry

Angola is driving its natural gas industry forward, with plans to develop gas fields and increase LNG production. President João Lourenço is committed to strengthening Angola's oil and gas sector and expanding its LNG exports. The country is also improving its natural gas projects, and aiming to diversify its stake in the industry. Angola's progress in the LNG sector offers a pathway toward a just energy transition and a boost to local economies across the continent. According to Social News XYZ , the African Energy Chamber has been particularly pleased to see Angola driving its natural gas industry forward.

Solo Creed found in Angola

The tugboat 'Solo Creed' resurfaced in Angola after being involved in a $23 million oil spill in Tobago on February 7, 2024. The tugboat was detained by the Angolan Navy for violating the security perimeter of oil extraction blocks 17 and 18. The government of Trinidad and Tobago is attempting to verify the location of the tugboat, which has not been seen since turning off its location transponder in February. In a report filed by Bellingcat , the tugboat's claimed current owner denies that it was seized and states that the barge has no insurance to help with the oil spill. The cleanup cost of the oil spill is estimated at $23.5 million, and no insurer has been identified for the tugboat and barge.

Road to a polio-free nation

Angola aims to vaccinate over 5 million children to ensure a polio-free nation, with a focus on vulnerable populations such as refugees. The vaccination campaign, supported by the Ministry of Health and partners, is crucial in protecting children from the threat of polio, which has resurfaced in environmental samples and susceptible children in the country. WHO suggests the initiative demonstrates Angola's commitment to promoting child health and resilience in vulnerable communities.

"This is an excellent foundation to incorporate AI to assist in a comprehensive search for new diamond deposits and potentially other minerals," he told Mining Weekly .

Teeling emphasized the immense scale of their database which has been described as the country's second-largest diamond exploration information set.

With a staggering 380 gigabytes of data and 260,000 files covering 95,000 sq km, the database includes crucial information from 375,000 km of airborne geophysical input, 606 ground geophysical surveys, 228,000 soil sample results, and 32,000 drill hole logs.

Recognising the limitations of human analysis in handling such vast datasets, Teeling highlighted the necessity of AI-driven solutions.

"Large databases like ours are suited to analysis by computer-based large AI techniques that can analyse substantial amounts of data in a short time," he explained. "Our mineral database in Botswana is simply vast. Too big for timely analysis by humans."

To execute this initiative, BOD disclosed that it will leverage Planetary AI Ltd Xplore, a sophisticated system that combines semantic technology with machine learning.

This technology enables computers to interpret the meaning and context of geological data, similar to a geologist, but at a significantly faster pace, according to BOD.

Botswana's diamond exploration industry plays a pivotal role in the country's economy, with diamond mining contributing approximately 20% to the gross domestic product (GDP) in 2022. Diamond cutting, polishing, and trading accounted for an additional 5% of the GDP. While alongside copper-nickel and silver, diamonds constituted 92% of Botswana's total exports.

Two police officers and two civilians are facing the law over the alleged theft of US$ 4,000 from a Chinese national. According to local news platform The Voice , the officers Leatile Scotch and Tshidiso Serero both from the Francistown Central Police Station allegedly robbed the victim Liya Wu on February 6, along the Blue Jacket Street together with their civilian accomplices Edwin Othusitse and Themba Bagai. They voluntarily handed over themselves to the police after learning they were wanted. The four were granted bail of 2,000 Pula (US$146) by the Francistown Magistrates Court on February 12 and were asked to present two sureties each.

Trade relations

Botswana and Zambia have settled on plans to form the Kazungula Bridge Authority (KBA) aimed at enhancing global trade and investment between both countries. Botswana President Dr. Mokgweetsi Masisi and Zambian President Hakainde Hichilema announced that the authority’s headquarters will be based in Botswana with a Zambian national as its Chief Executive Officer. The authority will ensure the operation and maintenance of the bridge as well as transform the Kazungula One Stop Border Post into a preferred facility for travellers. The Kazungula Bridge is a road and rail bridge over the Zambezi River that lies between Zambia and Botswana at the town of Kazungula, Daily News reports.

Diamond certification

Botswana’s Minister of Finance Peggy Serame has said the imposed certification of diamonds in Antwerp, Belgium is a threat to the benefits Botswana can get from its diamonds. According to her, the decision by the G7 countries to streamline the certification of diamonds will diversely impact the country’s economy. “There are several risks which, if not mitigated can reverse some of the macro-fiscal gains achieved so far. These include risks in the diamond sector stemming from weak economic activity in the major trading economies. Risks in the diamond sector, particularly in the beneficiation sub-sector will also be worsened by the G7 plan to verify the origin of non-Russian goods through diamond certification in Antwerp, Belgium. This may adversely affect the country’s ability to accumulate foreign exchange reserves and Government revenue,” Serame was quoted by local news outlet The Sunday Standard .

  Zimbabwe and Botswana relations

Zimbabwe President, Dr Emmerson Mnangagwa has left his Botswana counterpart, Botswana’s President Dr Mokgweetsi Masisi following the conclusion of the 4th session of Botswana- Zimbabwe Bi-National Commission (BNC) that was held in Maun in Northern Botswana. President Dr Mnangagwa invited President Mokgweetsi Masisi to attend the 5th Session of the BNC scheduled to be held in Zimbabwe next year, Daily News reports.

Fire disaster

A three-month-old twin baby died in a fire disaster in the Goodhope village in Botswana. According to details of the incident which was reported on February 9, the fire occurred in the morning while the twins slept alongside their six-year-old cousin who was awake. Their mother, 17 years old was outside washing while her grandmother was away working. Upon hearing screams she fetched water to extinguish and called her grandmother without checking if the fire was completely out. The other twin survived with the six-year-old, The Voice reported.

It was discovered in November 2013 during geological surveys by the Catoca Mining Company, according to the country’s Ministry of Mineral Resources, Oil and Gas, Mirempet .

The Luele Mine is expected to contribute to significant mining sector reforms and increase diamond production.

The Minister of Mineral Resources, Oil and Gas Dimantino Azevedo said that the move will “better insert the Angolan diamond industry in the international context of this product”.

Azevedo noted that De Beers, a world-leading diamond company was brought back to Angola after fierce negotiations, making the country a global mining giant for the first time.

To date, around US$59.3 million has been spent on geological research work, US$415 million for the implementation of the mine and US$161 million for the Treatment Center, making a total of US$635.3 million. 

Preliminary studies of the geological potential reveal that the Luele kimberlite is 600m deep in an area of ​​105 hectares, with an amount of ore of 647 million tonnes that will result in 628 million carats, in an estimated mine exploration of 60 years, from 2023 to 2083.

Sociedade Mineira de Catoca has a stake in the project with 50.5%; Endiama 25%; Falcon, 19.5%; Reform 4%; and the Geological Institute of Angola (IGEO), 1%.