Botswana to Increase De Beers Stake to 30% for Tech and Diamond Growth

Botswana plans to raise its De Beers ownership from 15% to 30%, aiming to boost influence and tap into synthetic diamond technology for industrial uses.

Botswana's President Duma Boko announced plans to increase the country's stake in De Beers from 15% to 30%, making Botswana the largest shareholder. This move is framed not only as a diamond investment but also as a strategic entry into synthetic diamond technology through De Beers-owned Element Six, which serves advanced industrial applications.

The government highlighted potential growth in synthetic diamond demand linked to AI infrastructure and data centers. The US government has invited Element Six to collaborate on a $600 million facility in Georgia, signaling a new technology partnership. Angola and Namibia are expected to join Botswana in this transaction, uniting major regional diamond producers in De Beers ownership.