Mines minister Amutse denies Namibia losing De Beers stake bid

The Ministry of Industries, Mines and Energy has dismissed reports that Namibia has lost its bid to acquire a stake in global diamond producer De Beers, saying information circulating on the matter is “misleading and incorrect”.

Responding to reports that Anglo American had selected the Global Diamond Consortium as its preferred bidder for the sale of De Beers, mines minister Modestus Amutse on Sunday said the government would provide the correct information through its official communication channels.

“At this stage, I can only say that the information being shared is misleading and incorrect,” he said.

His remarks follow Botswana’s minister in the presidency, Moeti Mohwasa, telling Botswana’s parliament on Friday that Anglo American had concluded a competitive sale process involving three shortlisted bidders and had identified the Global Diamond Consortium as its preferred bidder.

Mohwasa said the consortium had proposed including Angola and Namibia in the transaction, but did not disclose the identities of the consortium members.

The latest developments come months after Namibia publicly expressed interest in acquiring a stake in De Beers, following Anglo American’s decision to dispose of the diamond giant as part of its restructuring strategy.

The government has argued that securing an ownership stake would strengthen Namibia’s position in the global diamond value chain and provide greater influence over an industry that remains central to the country’s economy.

The reported preferred bidder has also reignited speculation that an investor from the United Arab Emirates was involved in the consortium.

However, Amutse previously rejected reports that Namibia had partnered with the said investor in its bid, saying the government had not entered into any such arrangement.

He cautioned against speculation while negotiations were ongoing.

The government is expected to provide a detailed update on the matter.

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