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The Botswana government owns a 15% stake in De Beers and Botswana accounts for 70% of the company’s annual rough diamond supply. (The Botswana government may raise its shareholding in global diamond miner De Beers, President Mokgweetsi Masisi told JCK News, after parent company Anglo American said it plans to spin off or sell the business.
channel. The president in May told CNBC Africa that government would defend its interests in the diamond miner. Like other luxury goods, diamond prices have been hammered by a slump in global demand. De Beers has been limiting supply and offering flexibility to contracted customers. In February, Anglo announced a $1.6 billionon De Beers. Anglo acquired De Beers in 2011, buying the Oppenheimer family’s 40% stake for $5.1 billion.
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